UGANDA - FARMERS TO GET UPDATE OF WORLD COFFEE PRICES DAILY
In Uganda farmers will access world coffee prices twice a day from Uganda Coffee Development Authority under the warehouse receipt system. Apollo Kamugisha, the assistant coordinator of the system, said warehouse operators would use mobile phones to relay the prices. Kamugisha said this during a workshop in Buwalasi, Sironko, recently. "The information will help farmers sale their coffee and not give it out ignorantly at extremely miserable prices as has been the case," he said.
Kamugisha said soon, they would be finalising talks with banks to allow farmers use coffee as collateral for loans. angement, a farmer only has to take the warehouse receipt with the quality and quantity of his produce deposited at a certified warehouse to the bank. Chris Baine, a consultant with the system, said, "If the system starts and banks develop more trust in the farmers, we want the farmers get money in advance before the coffee is deposited in the warehouse."