Kenya Inaugurates Warehouse Receipt System Council

  • -      Warehouse Receipt System (WRS) starts from October harvest 
  • -      The Warehouse Receipt System (WRS) will allow rural smallholder farmers to deposit commodities in NCPB warehouses, get receipts they can use for collateral and wait to sell when prices improve 

 

Warehouse Receipt System Council has been inaugurated in Kenya to have operational oversight of Kenya’s Commodity Warehousing. Farmers will begin using the Warehouse Receipt System in the October harvest season to get better prices, loans and improve their livelihoods.

 

In June 2019, Parliament passed the Warehouse Receipts Systems Act 2019, providing a legal and regulatory framework for development of the WRS and establishment of the Warehouse Receipt Council. The Warehouse Receipt System Council will oversee the operations of the system in collaboration with county governments and other stakeholders.

 

Speaking at the virtual inauguration, Agriculture Cabinet Secretary (CS) Peter Munya on Wednesday directed the Warehouse Receipt System Council to ensure the system is working by October, 2020. This is expected to reduce pressure on farmers to sell their harvested farm produce immediately when prices are typically very low.

 

Under the Warehouse Receipt System (WRS) owners of commodities, who may be farmers or dealers, deposit produce in certified/approved warehouses. They are issued a title document called a Warehouse Receipt as proof of ownership.

 

The acting CEO of the Council is Samwel Ogola. The Council is constituted by representatives from the major agricultural commodities’ trade system in the public and private sector.

 

Email: Editor@agricinafrica.com


Farmer HelpLine: +233 500 000 996

 

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