GAFTA
Gafta is an international trade association with over 1500 members in 89 countries. Our aim is to promote international trade in agricultural commodities, spices and general produce, and to protect our members’ interests worldwide.
Origins
Gafta can trace its origins back to 1878, when the London Corn Trade Association (LCTA) was established by members of the corn trade to protect their interests. The LCTA sought to achieve this through the adoption of standard forms of contract, drawn up by the association, with any disputes arising out of these contracts being settled by arbitration rather than legislation. Disputes were referred to London and conducted under English Law. GAFTA
Development
In 1906, a group of traders broke away from the LCTA and formed a new more specialised association, the London Cattle Food Trade Association (LCFTA), for those trading in vegetable proteins used as animal feedingstuffs. In 1965, the LCFTA dropped ‘London’ from its title, reflecting growing internationalisation. In 1969, merger talks commenced between the LCTA and CFTA. The outcome of these talks was the formation of a new joint association, the Grain and Feed Trade Association in 1971.