Côte d'Ivoire officially launched the Agricultural Commodities Exchange (Bourse des Matières Premières Agricoles - BMPA) on May 28, the first of its kind in West Africa, allafrica.com reports.
For farmers, the new exchange means fair prices and better visibility of the value of their crops. For investors, the BMPA opens the door to a new asset class linked to West African agricultural production. And for the region, it sets a precedent: a replicable model that combines technology, governance and economic opportunities.
The exchange operates through a modern digital platform, which ensures secure and transparent transactions and guarantees the quality of products, thanks to authorized warehouses in Korhogo and Bouake. The exchange thus brings together farmers, investors, financial institutions and authorized brokers.
After seven years of development, the exchange opened in the Ivorian economic capital Abidjan, and the first transactions took place in a successful session. After the launch, in just ten minutes, 89 tons of goods were traded, valued at almost 31 million CFA francs - just under 50,000 euros.
The platform currently lists three key products - raw cashew nuts, kola nuts and maize - chosen for their strategic importance to the national economy.
Marking the launch of the market, the West African Economic and Monetary Union posted on the X platform: "The exchange marks a historic turning point for the Ivorian agricultural sector."
The BMPA replaces informal trading practices with a regulated platform that reflects the dynamics of supply and demand in real time.
Ivory Coast is the world's largest producer of both raw cashews and kola nuts, with over one million tons of cashews and 250,000 tons of kola nuts placed on the market annually. Maize also plays a central role in domestic food security. It is worth remembering that, at the same time, Ivory Coast is the largest global producer of cocoa beans.
After the launch of the exchange, farmers deliver their crops to approved warehouses near the production areas and receive warehouse certificates, which serve as documents for transactions on the exchange.
Raoul-Alex Zouzou, head of the African Commodities Brokerage House (ACBH), told RFI: "With these certificates, producers will come to meet brokers to sell their products online. From the exchange platform, the broker - who is also in contact with producers, processors and exporters - will offer these products to buyers".
This system aims to stabilize seasonal fluctuations in supply, especially in the case of cashew crops.
Beh Soro, the leader of the Ivorian inter-professional organization of cashew producers, was quoted by RFI as saying: "Cashew nut production takes place over a short period. As a result, we have an abundance during the harvest period. Capturing stock during an abundance period allows us to regulate the market and therefore sell later, when demand is more attractive to producers.”
Dr. Edoh Kossi Amenounve, CEO of the Bourse Regionale des Valeurs Mobilières (BRVM), a regional stock exchange serving West African countries, was quoted by african-markets.com as saying: "The strong start is a sign of things to come. BMPA has the potential to become one of the top five commodity exchanges in Africa in the near future.”
• Infrastructure and Operation
The exchange's regulated warehouses offer a total storage capacity of 500,000 tonnes. Financial transactions are managed by the National Investment Bank, acting under the auspices of an affiliated Agricultural Settlement Bank. Trading sessions take place Monday to Friday, between 10:00 and 12:00 GMT, with price changes per session limited to 10-15%, as a safeguard against market volatility.
Authorized brokers include West Africa Commodities Market, Raw Material Trading and ACBH, with participants ranging from smallholder farmers and cooperatives to exporters and investors.
The BMPA is not only a national achievement for Côte d'Ivoire, but also a regional first within the West African Economic and Monetary Union. It joins around 15 commodity exchanges in Africa - including those in Ethiopia, Rwanda and Kenya. Globally, there are about 125 such exchanges, the largest being in South Africa, with transactions of over 72 billion euros annually, according to allafrica.com.
By ensuring transparent prices, better access to markets and a formal trading platform, the BMPA hopes to reduce dependence on international pricing centers such as London or Kuala Lumpur and improve farmers' incomes.
However, there are challenges, including limited infrastructure, access to finance and awareness among stakeholders.
However, the BMPA is a bold step forward - part of a broader strategy to modernize agriculture and empower local producers through market inclusion and economic resilience.