The first regional rice stock exchange for West African rice farmers

Ouagadougou hosted from 04 to 05 March a regional rice exchange that gathered many participants from West Africa
The first regional rice exchange that took place from 04 to 05 March 2016 in the capital city of Burkina Faso, was placed under the theme « improving the regional rice trade ». This first edition of exchange was an occasion to meet and exchange between many tens of rice professionals from Benin, Burkina Faso, Mali, Niger and Senegal.

The opening remarks have been marked by many addresses of which this of the Chairman of ROPPA who took advantage of thanking partners and underlining that ROPPA through its rice Framework is also still convinced that « apart from the opportunities of economic exchanges that offers this stock exchange it participates in information and training of rice farmers’ organizations , committed in the globalization of exchanges that requires competences and new habits in order to make successful integration within an economic space more and more open where competitiveness is rigorous with a low level of protection that does not foster the development of rural sector ». The Chair of the said ceremony, Jacob OUEDRAOGO, Minister of Agriculture and Fisheries resources hailed this initiative that “will strengthen economy and contribute to take up difficulties that rice sector encounters”. He reiterated the support of his department for such initiatives that contribute to the development of the agricultural sector.
Some panels were animated by experts of agricultural sector across West Africa
This regional stock exchange was also an opportunity for participants to follow presentations of experts from CILSS, WAEMU and Afrique Verte. First of all, those presentations helped make the current situation of rice that is successful. Actually, out of twelve countries concerned, only two are in deficit and 10 in surplus situation. But, it is noteworthy that rice production should show a slight fall during the year 2016. This fall would be due to climate changes to which our countries are facing. However, this sector is also facing other difficulties that are among others the lack of data, insufficiency of the exchangeable supply and mostly the absence of intra-regional exchanges. To this end, it is compulsory to set up strategies to boost rice sector. Those strategies have to take into account the (i) uplifting of custom duties, (ii) quantitative bans in exchanges with States and (iii) establishment of check points as well as the setting up of an observatory related to illegal practices.
B to B meetings between rice sellers and buyers
There were B to B exchanges between the various actors to negotiate on various supplies and valorize their rice varieties. Those exchanges enabled each participant to learn a little more on rice variety of each country and link trade partnerships. At the end of those negotiations, 28 contracts were signed. However, we notice that key parties of contracts were signed between participants coming from the same country. That means that transportation costs between the various countries are very high. Therefore, participants urged WAEMU to make the free movement of goods and people real in order to foster exchanges between member countries. The exchange helped make transactions of 18,203 tons of rice for a turnover of 3,029,917,000 CFA francs.
To facilitate those transactions, a committee has been set to monitor contract commitments for six (06) months from the end of this exchange. This device made-up of ROPPA/CRCOPR, APROSSA AV Burkina and VECO WA will have an uphill task to take stock of the transactions done after the exchange, evaluate prices set and their impacts on sub-regional market and analyze difficulties from those transactions and lastly evaluate positive points.

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