EAX Rwanda to auction 1,000 tonnes of maize

About 1,000 metric tonnes of maize will, on Monday, be auctioned by the Rwanda East African Exchange (EAX).
EAX Rwanda chief JB Sebabi
EAX Rwanda chief JB Sebabi

About 1,000 metric tonnes of maize will, on Monday, be auctioned by the Rwanda East African Exchange (EAX).

In April, 2,800 tonnes of beans were auctioned by the EAX Rwanda, raising hopes that the commodities exchange would help raise farmers’ incomes and improve regional market efficiency.

John Bosco Sebabi, the chief operating officer of EAX Rwanda, said the commodities exchange would use the automated trading platform.

Sebabi added that those who wanted to participate in the auction were trained on auction procedures.

“We are collaborating with the Rwanda Grains and Cereals Corporation to address the challenges that affect grain and cereals trading by establishing structured trading systems.

“This will improve national trade practices and marketing approaches that help farmers, suppliers, traders and processors to transform their businesses,” he said in a phone interview with Business Times yesterday.

The exchange, which was launched in January, seeks to provide farmers a better market for their produce and boost the agriculture sector.

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