GCX Trade Turnover Soars to GH¢24.3 Million in 2024, Signals Robust Growth
The Ghana Commodity Exchange (GCX) recorded an impressive trade turnover of GH¢24.3 million in 2024, according to the latest Financial Stability Review. This significant achievement in market liquidity was primarily propelled by a strong surge in demand for maize and soybean contracts. This exceptional performance highlights the growing efficiency and vitality of Ghana’s agricultural commodities trading ecosystem, solidifying the GCX’s pivotal role in connecting farmers to markets and fostering economic stability.
# Key Drivers Behind GCX’s Unprecedented Growth
The 2024 figures represent a remarkable increase across key metrics for the Ghana Commodity Exchange. Trading volumes escalated by a substantial 107 percent year-on-year, reaching 5,161 metric tonnes. Concurrently, the total value of executed trades soared by 115 percent, climbing from GH¢11.29 million recorded in 2023. This upward trend was further echoed in settlement values, which saw a 113 percent increase to GH¢23.31 million, indicating not only improved liquidity but also faster deal execution on the platform. The GCX attributed this stellar growth to several strategic factors: increased market participation by diverse stakeholders, the effective utilization of aggregation funds, the introduction of an efficient T+1 settlement cycle, expanded warehouse infrastructure across the country, and a general boost in trader confidence within the exchange’s operations. These combined efforts have clearly enhanced the platform’s capacity and appeal.
By commodity, maize dominated trading activity on the exchange, with its traded volumes nearly doubling to an impressive 4,604 metric tonnes. However, soybeans recorded the most significant gains, experiencing a sharp 190 percent increase to 512 metric tonnes, largely driven by heightened demand. This strong performance across key agricultural commodities underscores the GCX’s growing impact on modernizing and formalizing agricultural trade in Ghana, offering a transparent and efficient platform for producers and buyers alike. The consistent growth reflects a maturing market and a positive outlook for future commodity trading in the region.
Keywords
Related Keywords: GCX trade turnover, Ghana Commodity Exchange, GCX 2024 performance, GCX financial results, Ghana commodity trading, GCX trading volume, GH243 million turnover, Ghana commodity market 2024, GCX annual turnover, Ghana exchange volume
