Export Promotion Council CEO Peter Biwott addressing the press Friday, September 16, 2017. [Photo/Elvanis Ronoh].
Kenya Commodity Exchange (KOMEX) has official launched its offices in Eldoret, Uasin Gishu County.
According to Export Promotion Council CEO Peter Biwott the platform will help solve storage and pricing challenges that farmers have been facing.
"Farmers will now be able to store their products when their prices are low and sell them when they are up. It will also reduce brokers who exploit farmers by buying their produce through a throw away price," he said in Eldoret town on Friday.
He reiterated that the platform will also help farmers to diversify where they will not only concentrate on maize and wheat but also practice horticulture farming where markets will be developed for them.
"KOMEX will also stimulate production of local products through competitive prices and bring value to agriculture," noted Biwott.
He called upon farmers to use the platform since it will help them reduce the cost of production and increase their profits.
Biwott applauded Uasin Gishu County government for having set up structures and kept the tempo of fostering the cooperative movements.
Uasin Gishu County Deputy Governor Daniel Chemno shared his optimism that the commodity exchange will promote stability of trade activities in the county.