Côte d'Ivoire: the pilot phase of the Agricultural Commodities Exchange (BMPA) from the second half of 2023
On June 7, 2023, the Council of Ministers adopted a communication relating to the start of the pilot phase for the operationalization of the activities of the Agricultural Commodities Exchange (BMPA). The project defended by the Ministry of State, Ministry of Agriculture and Rural Development, in conjunction with the Ministry of Economy and Finance, the Ministry of Budget and State Portfolio and the Ministry of Trade, of Industry and the Promotion of SMEs, is part of one of the axes of development of the current Regional Stock Exchange of Abidjan. The other WAEMU countries are expected to join the platform.
In the proposal adopted by the Council of Ministers, the Ivorian Government decided to set up a BMPA integrating both cash crops and food crops, namely an organized market, in line with international standards, in order to correct distortions observed in the markets, to make the circulation of agricultural products more fluid and to improve producers' incomes.
Following the convincing conclusions of the feasibility study, which made it possible to determine the potential and to establish the operating conditions of such a market in Côte d'Ivoire, a pilot phase of BMPA operations is planned to start in second half of 2023, for a period of 24 months.
The raw materials chosen for the start-up of the BMPA are raw cashew nuts, corn and fresh kola nuts. This pilot phase will be carried out by the BRVM within the framework of a management mandate agreement. The BRVM will be responsible in particular for the direct management of stock market transactions relating to negotiable agricultural commodities and support for the technical choices that may prove necessary for future market bodies.
Ultimately, the BMPA will not only make it possible to offer a basic price reference for negotiations on commercial contracts, nationally and internationally, and to have better control of the prices of our agricultural products, but also to capture significant resources for financing the sector, for the benefit of all actors in the agricultural value chain.