Tanzania: Warehouse receipts to support market competition for farmers’ crops

DODOMA – Tanzania’s Deputy Minister of Investment, Industry, and Trade, Exaud Kigahe, has called on every stakeholder involved in the use and management of the Warehouse Receipts System to fulfill their responsibilities in order to get competitive markets for the farmers’ produce.

Kigahe said this during the Warehouse Receipt Day held as one of the activities of the Cooperative Week held before the celebration of International Day of Cooperatives last Saturday.

He said the use of warehouse receipts is important in promoting the business sector and product markets in the country.

He urged stakeholders involved in this System including farmers, executives in cooperative societies, managers of warehouses to comply with the law, rules, and procedures of warehouse receipts to promote market competition by giving farmers a good and productive price.

“As you know, the Warehouse Receipts System includes various stakeholders including the government, local government authorities, warehouse operators, bond managers, farmers and producers of other products, financial institutions, insurance companies, warehouse inspectors, cooperative societies and Tanzania Commodity Market (TMX),” he said.

He added: Success in achieving the objectives of the system depends on the implementation of the responsibilities of each stakeholder,” said Kigahe.

Meanwhile, Tanzania’s Minister of Agriculture, Hussein Bashe said government will continue to strengthen the cooperative movement by increasing productivity in agriculture.

Bashe said this during the peak of the International Day of Cooperatives celebrations on Saturday at the Nanenane Ipuli Stadium in Tabora.

Speaking to the cooperators, the minister said the government is working to strengthen the agricultural infrastructure and increase the production of crops that will be sold through cooperatives.

In addition, he said the government will continue to invest money and formalise agriculture so that farmers in the country can use officially recognized systems and give them ease of doing business.

He urged businessmen not to cheat farmers through wrong measurements, saying farmers must get the right payment for their produce.

He said the use of digital scales along with the Management System of Cooperative Societies [MUVU], has already started in the coffee and ground nuts sub-sectors.

On his part, the chairman of Tanzania Cooperative Development Commission [TCDC], Abdulmajid Nsekela, said one of the Commission’s priorities is to strengthen and increase the productivity of cooperatives.

According to Nsekela, TCDC recently reported that cooperatives in Tanzania collected and sold 1.83 tons of agricultural produce. The crops sold included tobacco, cashew nuts, cotton, coffee, sesame, cocoa, tea, sisal, beans, soybeans, grapes, and sugarcane.

e noted that TCDC will continue to manage the process of establishing a bank to serve cooperatives. He said cooperatives would own 51 percent of the shares in the bank while the private sector would own the remaining 49 percent.

https://thecooperator.news/tanzania-bans-donkey-slaughter-to-stop-risk-of-extinction/

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