Posted on May, 25, 2022 at 09:36 am
Kenyan government wants to reduce agricultural produce waste by providing proper warehouses and assisting farmers in storing their produce. According to recent reports, Kenya loses 30% of food produced after harvest, with approximately 20% wasted at the farm gate and the remainder lost at the marketing stage.
Kenyan government has expressed a strong desire to replicate NCDEX's agriculture futures trading and warehousing model, despite the fact that the Indian government recently banned derivative trading in seven agricultural commodities due to concerns about high inflation.
According to Jane Mumbi Ngige, Chairperson of the Warehouse Receipt System Council, a high-level council of Kenyan agriculture trade members is visiting India to learn about the process of issuing electronic warehouse receipts. They visited NCDEX e-Markets accredited warehouses and met with the Warehouse Development and Regulatory Authority to better understand the process and how it can benefit farmers.
Kenyan government wants to reduce agricultural produce waste by providing proper warehouses and assisting farmers in storing their produce. According to recent reports, Kenya loses 30% of food produced after harvest, with approximately 20% wasted at the farm gate and the remainder lost at the marketing stage.
Due to a lack of storage facilities, waste in the staple crop maize, which is harvested once a year, can reach 40-60%. According to Ngige, the visiting high-level committee will share its inputs and recommend detailed guidelines to establish the eco-system for agricultural futures trading.
Source: Krishi Jagran