East African commodity exchange links farmers, markets
Saturday July 5 2014
Market began operations in January 2013 with trade in maize and beans, and will soon include coffee, tea, other cereals and minerals. TEA Graphic
Plans are also underway to set up centres in Uganda and Kenya to extend the market’s operations, and to also test the South Sudan and Tanzanian markets.
It launched operations in January last year and has mainly traded in maize and beans. The plan is to increase traded items to include coffee, tea, cereals, as well as minerals.
Analysts say the commodity exchange will not only help regional farmers to eliminate post-harvest losses, but also improve the liquidity levels in the economy. It will also encourage a steady supply of quality raw material needed to trigger industrialisation.