The East African Grain Council (EAGC) and the Kenya Bureau of Standards (Kebs) have entered into a partnership to train inspectors and other grain handlers.
The agreement aims to improve the quality of grains that is delivered and enhance traceability.
“The development paves way for strengthening of warehouse receipt system, where formation of farmer groups is encouraged to form aggregation centres at village level, to optimise on economics of scale, create tradable volume, as well as, earn more for production of quality grades,” said EAGC in a statement.
EAGC recently received a Sh400 million grant from the UK government to fund its online trading platform, G-Soko.
Trading of grain in a structured market has started picking up in the region and international companies have started muscling into the business.
PXAfrica Ltd, a subsidiary of US-based PanXchange, says that traffic on its online platform is increasing as users get more comfortable with the system.
“We already have live orders for April delivery on the system.
“This is important because you can’t have a successful futures market until you have a healthy spot and forward underlying market,” said PanXchange chief executive Julie Lerner in a statement.
SOURCE: BUSINESS DAILY