By GEOFFREY IRUNGUMore by this AuthorKenya needs to set up a commodities exchange to enable farmers discover the true price of their crops and avoid being short-changed by unscrupulous traders, investment banker Jimnah Mbaru has said. The exchange would also show how cereals in Kenya are priced relative to similar commodities in neighbouring countries, where the country has occasionally imported for its food needs. Mr Mbaru told the Business Daily in an interview that the exchange would further cut down on corruption because the cartels would be priced out by the market. “What Kenya needs is to set up the commodities exchange to ensure farmers get the true value of their produce. With the pricing differing, said Mr Mbaru, it is difficult to tell the true price of the commodity since the elements involved in the pricing are far from transparent.

Source: Daily Nation June 04, 2018 06:45 UTC