Monday, July 27, 2015

East African Exchange (EAX), Kigali-based commodities exchange, will start trading in coffee and beans in coming weeks.

Kadri said the move aimed at attracting more farmers to use the platform and expand tradable products on the EAX.

Kadri the plan is to encourage as many farmers as possible to sell their produce through EAX and benefit from better prices, as well as ease access to regional markets.

“There is a lot EAX can do in the coffee value chain, particularly linking growers to local and international markets through the Exchange’s trading platform. We can also offer them finance under the warehouse receipt system arrangement with some local banks,” Kadri said.

Presently, the exchange trades in maize provided by farmer co-operatives

Meanwhile, Kadri has urged farmers to use the platform’s warehouses to reduce post-harvest losses and enhance produce quality, arguing that this ensures better earnings.

He said farmers lose about 20 per cent of their produce due to poor post-harvest handling and lack of proper storage facilities.

Kadri said when farmers store produce in the exchange’s warehouses, they suffer only 3.5 per cent in post-harvest losses.

EAX partnered with Collateral Management International (CMI) last year to manage produce in the warehouses run by the exchange and ensure quality storage.

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