Wanted: Proper supervision of warehouse receipt system

10Jul 2020
By Guardian Reporter
Dar es Salaam
The Guardian
Wanted: Proper supervision of warehouse receipt system

​​​​​​​PERMANENT Secretary in the Ministry of Industry and Trade Prof Riziki Shemdoe has underscored the need for proper supervision of the warehouse receipt system to end farmers’ challenges including fluctuating crop prices and quality.

Prof Shemdoe made the statement in Dar es Salaam yesterday after he visited the Warehouse Receipts Regulatory Board (WRRB) offices located at Veterinary buildings. During the meeting, WRRB staff had a chance to share their challenges with the PS.

He said the warehouse receipt system has largely contributed into revolutionising the country’s agriculture and boost economic growth.

Prof Shemdoe urged workers of the WRRB to continue cooperating with other government institutions doing similar activities taking into consideration that farmers and manufacturers of different commodities depend on the board in ensuring better prices for whatever they produce.

According to the PS, the WRRB should work closely with the Tanzania Cooperative Development Commission (TCDC), Tanzania Cooperative Development Commission (TCDC), Tanzania Mercantile Exchange (TMX) and other stakeholders to find solution to the challenges facing farmers.

Executive Director of the WRRB, Odilo Majengo informed the Permanent Secretary on the board’s responsibilities noting the warehouse receipt system has assured farmers of better crop prices.

Majengo said that establishment of a strong farmer’s cooperative union system as well as the Tanzania Mercantile Exchange (TMX) has enabled farmers to open bank accounts whereas all the payments to farmers are done through banks.

He said all these efforts have managed to remove the challenges of crop theft through the use of unverified weighing scales. He said farmers are also producing quality crops that can be sold within and outside the country.

The Ministry’s Deputy Permanent Secretary, Ludovick Nduhiye commended WRRB for a job well done especially supervision of the warehouse receipt system in strategic crops including cashew nut.

WRRB was established under the Warehouse Receipts Act No. 10 of year 2005 and Act No 3 of 2015 as amended and Regulations 2016. It was meant to regulate and promote the warehouse receipts system that ensures a fair and sustainable accessibility to formal credit and commodity marketing systems.

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