Auction Suspended at Gedaref Crops Exchange
Marketing experts at the Gedaref Crops Exchange revealed on Wednesday that auctions inside the market have been suspended due to the absence of buyers in the trading hall.
Dr. Khalid Abidoun, Director General of the Unified Revenue Collection Authority at the Gedaref State Ministry of Finance and Labor, stated that new administrative measures are expected to be introduced to develop revenue collection and operations at the state’s crop markets exchange. These measures aim to prevent trading outside the Gedaref exchange by imposing additional fees on off-exchange sales and enacting a set of laws and regulations through the state government.
Abidoun attributed off-exchange trading to the greed and excessive profit-seeking of some buyers, who seek additional gains by obtaining empty sacks from farmers and charging handling fees twice, in addition to manipulating prices. He noted that current prices traded within the exchange are unrealistic due to the absence of competition, which deprives farmers of access to the highest possible prices—describing the practice as unfair purchasing.
