Opening of the crop auction in the Gadarif Stock Exchange
Sudan Events – Rehab Abdullah
The Administration of Gadarif Crop markets on Wednesday launched the operational opening of trading in auction stock exchange of sesame and event that saw the participation of huge public and companies, businessmen, traders and producers, in the presence of the Director General of the Ministry of Finance, Najat Ahmed Mohamed, and many bank directors, officials of state government and technical departments
Today’s recorded sesame crop stands at (17,686) sacks coinciding with the opening of the auction, and the maximum price of sesame reached SDGs75,100 per quintal, while the lowest price reached SDGs 66,700 per quintal.
Director General of Crop Markets in Gadarif, Mohamed Osman Al-Khalifa, explained that his administration worked to prepare services and provide all basic needs in the structure of internal markets to achieve the required efficiency in crop marketing services, in addition to adopting a unified window system for all transactions in the market, pointing out to the efforts of the state government and Ministry of Finance in spurring progress in Trading operations, buying and selling crops, appreciating the efforts of producers and traders in supplying national and local economy with products that bring economic benefits to the country.
Producers told (Sudan Events) that they considered the opening price good, as it fetched SDGs 75 ,000 per quintal on the first day of the auction. They think that the quantities reported in the market from local producers is weak, just 17,500 sacks, compared to the cultivated area of the crop, that is about one million acres. They considered the weakness of the incoming produce as reflecting the fear of the farmers and their reluctance to sell and supply due to the decline in prices in last days.
They also cited the delay in opening of the season by the government, and also weakness of monitoring processes in the sub-markets where demand and supply particularly followed the new increase in taxes on the fees.,
There is also the fact that traders and companies from Umm Rawaba and all areas of North Kordufan and Omdurman have departed but that did not affect the increase in marketing and export operations from Gadarif.
