Ghana Commodity Exchange Sees Trade Volume Surge to GH₵24 Million in 2024
Liquidity on the Ghana Commodity Exchange hit new highs in 2024, with trade turnover climbing past GH₵24 million as maize and soybean contracts drove record activity.
Trading volumes doubled, rising 107 percent to 5,161 metric tonnes, while the value of trades jumped 115 percent to GH₵24.23 million from GH₵11.29 million in 2023.
This is according to data from the 2024 Financial Stability Review.
Settlement values also climbed by 113 percent to GH₵23.31 million, reflecting stronger liquidity and faster deal execution.
The Exchange says the growth was supported by higher market participation, use of aggregation funds, a T+1 settlement cycle, expanded warehouse infrastructure, and stronger trader confidence.
By commodity, maize accounted for the bulk of activity, with volumes almost doubling to 4,604 metric tonnes.
Soybeans delivered the sharpest gains, up 190 percent to 512 metric tonnes, driven by rising demand from processors and export markets.
Price movements tracked demand fundamentals. Maize prices rose 34 percent to GH₵4,396 per tonne, while soybeans more than doubled to GH₵8,311 on the back of strong export appetite and higher input costs. Prices for sorghum, sesame, and rice were stable, pointing to balanced supply and demand.
On the infrastructure side, GCX expanded its warehousing network from eight to nine facilities, increasing storage capacity by 9 percent to 6,000 metric tonnes.
The warehouses, spread across Ashanti, Bono, Northern, Upper East, and Upper West regions, are expected to improve access for farmers and traders while easing liquidity pressures.
In total, 4,898 contracts were executed, representing a 122 percent increase.
With a six-year compound annual growth rate of about 14 percent, the Exchange is cementing its role in price discovery, expanding market access, and strengthening Ghana’s commodities sector.
