Nigeria Securities and Commodities Exchange Abuja plans to launch cotton spot trading
According to local media reports in Nigeria, Nigeria’s Abuja Securities and Commodity Exchange plans to include cotton as one of its spot trading varieties, and is currently stepping up research with the Nigeria Cotton Planting Industry Association, Textile Industry Association and relevant stakeholders. Some analysts pointed out that opening cotton spot trading on the exchange will help Nigerian textile companies obtain raw materials and promote the development of the Nigerian textile industry. However, it also faces difficulties such as the lack of effective product supply sources and rating systems.
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