Ekiti Takes Steps to tackle Post Harvest losses among farmers.

Ekiti Takes Steps to tackle Post Harvest losses among farmers.

....as  Agro Trading  and Aggregation Company established by Govt Commences Operation in Ekiti State.

As part of efforts of the  Administration of  Governor Biodun Oyebanji to reduce post harvest losses  among farmers and prevent the negative activities of middlemen  purchasing  farm produce and commodities from formers at rock  bottom prices only to  hoard and resell them later at exorbitant prices,  the  Ekiti State Government has setup  the  agricultural outfit named Ilu Eye Agro Trading and Aggregation Company.

A statement by the State Commissioner for Agriculture and Food Security,Mr Ebenezer Boluwade made available  to newsmen in Ado-Ekiti said the  company would be responsible for the buyback of some selected agricultural commodities like rice paddy, beans, maize, garri and palm oil from the farmsteads across the state. 

He said the initiative is a testament to the government’s dedication to create food security and a sustainable food system in the state and designed to  consolidate the giant steps of the State Government at the upstream and midstream stages of the agricultural value chain would 

Boluwade disclosed that the  company's  social and commercial responsibilities are to make food available at the special food markets that will be soon created in the state stressing that this will help the state to bend the food inflation curve.

He stated  that the State Government had  invested in the renovation and construction of huge, spacious warehouses and other necessary storage solutions that will guarantee the safe and secured food storage practices.

The commissioner noted that the overall objective of this outfit will be achieved when it is finally transformed to Commodity Exchange Company that will ensure the formation of fair, transparent and real prices in accordance with the interests of the consumer by partially compensating for the price differences in terms of location and time of agricultural products, which are extremely common in production and consumption.

He stressed that the  Commodity Exchange creation ensures a seamless access to markets and finance opportunities to farmers and as it being presently practiced in Ethiopia and other East Africa countries where farmers easily get production finance while pledging the future produce as collateral.

Boluwade disclosed that talks are in advanced stage with local and international partners to layer the initiative with digitization solutions like blockchain technology which  has the potential to change and transform the commodity trading industry by providing a secure, transparent, and efficient platform for trade settlement and supply chain management. This will ensure traceability of the products to confirm if all phyto-sanitary protocols are observed along the value chain. 

He said  the company requests all farmers groups, associations, cooperatives, and individuals to reach out to the company through the phone number stated on the flyer.