Marketing
Sell before producing to avoid poor sales. Find a lasting solution like the stock market.
Put an end to post-harvest losses, difficulties in marketing crops, insufficient storage infrastructure, in order to encourage investment in agriculture
"The State of Senegal wishes to set up an agricultural products exchange, in order to guarantee a price to producers and the availability of products to traders". Explanations given by the Minister of Trade and SMEs, Aminata Assome DIATTA, on August 03, 2021 at Louga, during a Regional Development Committee (CRD), in the presence of agricultural actors and the governor of the region.
To this end, the services of an expert were requested, to definitively settle the question of the marketing of agricultural production: "this requires two things, the warehouses and the clearing house to guarantee the price" she added.
For the Minister, in order to "set up a stock market for agricultural products, it will be necessary to go to the 'futures market' which will facilitate the establishment of supply and demand.
With the futures market, the producer guarantees himself a price on the market, in the same way that the processor or the trader guarantees himself the availability of a product at a given time and at a determined price”.
The Ministry has initiated refresher sessions in the regions. The goal is to make producers understand the importance of futures markets and how such a project can be a solution to the marketing of agricultural production.
A futures market or futures contract is a commitment to buy (for the buyer), to sell (for the seller) an underlying asset at a price fixed today but for delivery and settlement at a future date.
She explained that “when the products arrive at the same time on the market, the prices go down and when the markets are saturated, the producers find it difficult to market their products. This situation should be avoided,” she added.
With regard to storage warehouses, the Government of Senegal has decided to make available to the Ministry of Commerce two billion CFA francs for the construction of warehouses, storage warehouses, cold rooms and refrigerated rooms for the conservation of productions. .
At Thiés, on August 04, 2021, the actors magnified this participatory approach of Mrs. Assome Aminata DIATTA who does not hesitate to meet the producers in their respective localities.