The Zimbabwe Mercantile Exchange (ZMX) recorded trades of 3 200 metric tonnes (MT) of agricultural commodities worth US$1,28 million in its second auction held on May 6, underscoring growing confidence in the country’s agricultural trading market.
Yellow maize prices traded between US$335 and US$345 per tonne, with a volume-weighted average price of US$336, while soya beans remained firm at US$550 per tonne.
The ZMX, established to provide a transparent and structured agricultural trading platform, seeks to improve price discovery and market access for farmers, traders, and processors.
Commodity exchanges are increasingly viewed as critical in stabilising agricultural markets by linking producers directly with buyers under regulated trading systems.
Responding to questions from NewsDay Farming, ZMX chief executive officer Collen Tapfumaneyi said the inaugural auction held in April provided a strong indication that the market was responding positively to the exchange’s structured trading framework.
He said there had also been an increase in both the volume and diversity of commodities offered for trade, with more than six commodity types presented at the second auction, compared to four during the inaugural sale.
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“By the second auction on 6 May 2026, we began to witness deeper market traction and growing confidence from participants. The auction recorded significant farmer participation, ranging from small-scale producers to commercial farmers, reflecting increasing acceptance of the platform across the agricultural value chain,” Tapfumaneyi said.
He added: “Traded volumes rose significantly to 3 200MT, while turnover increased to US$1 289 000, reflecting stronger commercial activity and larger transaction sizes, despite fewer active buyers and lots on offer. The market dynamics also highlighted evolving commodity-specific trends, with yellow maize prices softening slightly while soya beans maintained firm and stable pricing.”
The ZMX boss noted that the exchange demonstrated that, even at its early stages, buyers were willing to engage competitively within a transparent and rules-based trading system.
“Importantly, prices for key commodities such as yellow maize and soya beans remained stable, signalling confidence in the market despite some outstanding demand not being fully matched with supply,” Tapfumaneyi said.
He said the first auction had recorded stronger buyer activity relative to available supply, largely due to high moisture levels affecting commodity readiness for trade.
“While activity was moderate, the auction delivered firm price discovery and healthy participation, with 1 740MT traded at a total turnover of US$803 850 across 13 lots and 9 active buyers,” Tapfumaneyi said.
He added that challenges surrounding white maize trading, particularly moisture normalisation and pricing deadlocks, highlighted the need for continued engagement with stakeholders.
“Overall, the progression between the two auctions reflects a market that is gradually maturing, improving in liquidity, and moving towards more efficient price discovery under the exchange platform,” Tapfumaneyi said.