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NCPB unveils its new warehousing system

CARTOON
By | October 7th 2010

By John Oyuke

The Government will spend Sh500 million to buy maize from farmers for the Strategic Grain Reserve next month.

National Cereals and Produce Board (NCPB) Chairman, Jimnah Mbaru, said the Government has authorised the Board to purchase maize from farmers as the current grain-purchasing season picks up.

Mbaru urged farmers in the harvesting counties of Narok, Bungoma, Kakamega, Eldoret and Kitale to commence maize deliveries to the National Cereals and Produce Board to take advantage of the opportunity.

He said the Board would procure grain also meant to top-up famine relief stocks through its Warehouse Receipting System (WRS). Organisations like the World Food Programme (WFP), will also obtain grain under the WRS, which guarantees good screening on such issues as grain quality, including aflatoxin.

Mbaru spoke during a media briefing on establishment of the Warehouse Receipting System and Commodity Exchange by NCPB in Nairobi yesterday.

WRS will allow farmers to use their stored commodity, evidenced by a Warehouse Receipt (WR), as collateral for loans.

NCPB began using the system a month ago at Narok Silos. So far, the agency has collected over 700,000 90kgs bags of maize under the system.

"The Board intends to roll out the system to other areas of the country," he said.

Mbaru noted that successful implementation of WRS in Kenya would be a major milestone, and would herald a new dispensation in agricultural marketing in the country and the region at large.

Its implementation, and the completion of associated projects, would usher in the establishment of a Commodity Exchange (CE), for various commodities and derivatives.

Most commodity markets across the world trade in agricultural products and raw materials and contracts based on them.

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