Soya beans and sunflower farmers in Kenya have now a more ready market, thanks to Bidco Africa’s commitment to source directly from them at competitive price
This is good news to smallholder farmers in the country who have in the past forced to sell their produce to middle men at a throw away price due to lack of market access and knowledge
Bidco’s willingness to support local farmers has attracted interest from other corporate and state agencies including the Kenya Commercial Bank (KCB) and the Ministry of Public Service and Gender who have pledged to facilitate farmers to produce more.
This initiative is expected to rejuvenate Soya beans production in the country with latest statistics from ICRISAT indicating that the country has annual deficit of 7000 metric tonnes.
While the Ministry of Public Service and Gender will engage in mobilizing local farmers especially women to grow those crops, KCB has committed train and also provide seed capital to youth groups in a bid to help them earn an income.
Currently, the country is producing 2000-5000 metric tonnes per year against domestic demand of 12,000 metric tonnes, forcing local companies like Bidco and Promidisor to import.
Speaking while signing the agreement with Sicily Kariuki, Cabinet Secretary, Ministry of Public Service and Gender, Vimal Shah, CEO Bidco Africa said that the deal benefits all parties.
‘’While we provide a competitive market for local farmers, we stand a chance to cut on high production cost due to massive import for raw materials’’, said Shah
He added that their aim is to redefine their association with farmers for a socially responsible and environmentally friendly enterprise that responds to locals’ needs.
The company will be buying a kilo of soya beans for Sh90-120, which is at least Sh30 more compared to the current market price.