“Considering the number of players on the grain market, which can ensure proper supply and demand, we believe that the exchange will be able to function,” Mindaugas Gedvilas, co-founder and co-owner of AgroBirža, told the daily.
Approximately 5,000 farmers cultivated cereals at bigger than 50-hectare land plots last year. The grain purchase market has approximately 80 active players and the revenues on the sale of grain total 2.5 billion litas (EUR 724.6 m).
“The growers, in particular small ones, in Lithuania do not have a place where they could state their prices out loud. Electronic platform is an ideal tool for that. This type of electronic broker with the elements of an exchange enables to save both costs and time,” Gedvilas said.
Lithuania’s growers and grain buyers use the services by France’s MATIF exchange in most cases now – growers for monitoring the developments in grain prices and traders for actual trading in grain.
2012-06-21 18:25
Private investors setting up grain exchange in Lithuania
AgroBirža, a Lithuanian agricultural exchange established by private investors, is being launched in Lithuania amid expectations of record grain harvest this year, the Verslo Žinios business daily reports.
Rugiai / Andriaus Vaitkevičiaus / 15min nuotr.
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