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IS THERE A DIFFERENCE BETWEEN A COMMODITY EXCHANGE AND COMMODITY BOARD?

April 26, 2017commodity difference exchange

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IS THERE A DIFFERENCE BETWEEN A COMMODITY EXCHANGE AND COMMODITY BOARD?

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Yes, Commodity Boards: i. Are owned by Government. ii. Have monopoly of fixing price. iii. Export the commodities on behalf of the government. iv. Are financed by the Central Bank of Nigeria; While Commodity Exchange: i. Can be promoted by Government, Individuals, Companies, Farmers, and Users of commodities. ii. Price is determined through demand and supply.