Test application for warehouse receipt system launched

Addis Ababa: Nov26,  2021 (MOTI) The Ministry of Trade and Regional Coordination has launched a national pilot implementation program for the launch of a warehouse in the presence of cooperatives banks and agricultural producers.

The Warehouse Receipt System is a state-of-the-art system that can reduce the problems in the trading system and create better financing for farmers and goal processors.

State Minister of Infrastructure, Nellaw Mekonnen, said the warehousing system will reduce the financial burden faced by cooperatives, especially the cooperatives, during the harvest season. The pilot project was conducted in five cooperative unions and two agricultural processors in Amhara and Oromia regions, while wheat, maize, teff and beer barley were selected.

He said there is still work to be done in modernizing the marketing system in the agricultural sector, improving product quality and reducing waste, and improving access to finance and increasing production and productivity. He said various efforts are being made to implement new practices.

The State Ministry urged the selected cooperatives, banks that serve as a source of funding for the project, to fulfill their responsibility for the success of the pilot project.

The pilot project was funded by the International Finance Corporation (IFC), the Italian Development Corporation and UNIDO.

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