After seven years in development, Côte d’Ivoire has launched West Africa’s first agricultural commodities exchange – the Bourse des Matières Premières Agricoles or BMPA.
Officially opened on Wednesday 28 May in the Ivorian economic capital Abidjan, the exchange began formal trading on Friday, with the aim of bringing transparency, structure, and improved income to the region’s agricultural producers.
The exchange's symbolic launch was swift and promising: in just ten minutes, 89 tonnes of goods were traded, valued at nearly 31 million CFA francs – just under €50,000.
For now, the platform lists three key products – raw cashew nuts, cola nuts, and maize – chosen for their strategic importance to the national economy.
To mark the launch this week, the West African Economic and Monetary Union posted on X that the exchange "marks an historic turning point for the Ivorian agricultural sector."
Transparent, regulated marketplace
The BMPA replaces informal trading practices with a regulated platform that reflects real-time supply and demand dynamics.
Côte d’Ivoire is the world’s top producer of both raw cashews and cola nuts, with over 1 million tonnes of cashews and 250,000 tonnes of cola nuts produced annually.
Maize also plays a central role in domestic food security.
Farmers deliver their crops to approved warehouses near production areas and receive warehouse receipts, which serve as transaction documents on the exchange.
Speaking to RFI, Raoul-Alex Zouzou, head of African Commodities Brokerage House (ACBH), explained: “With this receipt, producers will come and meet brokers to sell their produce online.”
“From the exchange platform, the broker – who is also in contact with manufacturers, processors and exporters – will offer these products to buyers.”
This system aims to stabilise seasonal supply fluctuations, especially in crops like cashews.
“Cashew nut production takes place over a short period,” Beh Soro told RFI, who heads the Ivorian inter-professional cashew nut organisation.
“As a result, we have an abundance during the harvest period. Capturing the stock during a period of abundance allows us to regulate the market and therefore sell later, when demand is more attractive for producers.”
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Infrastructure and operation
The BMPA is underpinned by certified warehousing regulations, overseen by the Warehouse Receipt Regulatory Authority (ARRE), offering a total storage capacity of 500,000 tonnes.
Financial transactions are managed by the National Investment Bank, acting under an affiliated Agricultural Settlement Bank.
Trading sessions are held Monday to Friday – from 10 am to midday GMT – with price changes per session limited at 10 to 15 percent, as a safeguard against market volatility.
Authorised brokers include West Africa Commodities Market, Raw Material Trading, and the ACBH, with participants ranging from smallholder farmers and cooperatives to exporters and investors.
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A regional milestone
The BMPA is not only a national achievement for Cote d'Ivoire, but a regional first within the West African Economic and Monetary Union.
It joins about 15 commodity exchanges across Africa – including those in Ethiopia, Rwanda, and Kenya.
Globally, there are approximately 125 exchanges, with South Africa’s being the largest, trading over €72 billion annually.
By providing transparent pricing, better access to markets, and a formal platform for transactions, the BMPA hopes to reduce dependency on international price-setting hubs like London or Kuala Lumpur and improve farmer incomes.
Challenges remain, however, including limited infrastructure, finance access, and awareness among stakeholders.
Yet the BMPA is a bold step forward – part of a broader strategy to modernise agriculture and empower local producers through market inclusion and economic resilience.
(This article was adapted from an original report on RFI's French service)
