Benue to buy off farm produce from farmers

In a significant move to address food insecurity and improve the economic conditions for farmers in Benue State, the Benue Investment and Property Company (BIPC) is set to buy farm produce from farmers across the state.

Raymond Asemakaha, managing director of BIPC, disclosed this during a meeting with key stakeholders in the agricultural sector, including the Benue Traders Association and Benue Farmers and Traders Protection and Development Association.

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Asemakaha emphasised the urgency of this initiative, noting that despite Benue State’s recognition as the ‘food basket of the nation,’ food prices remain higher than in many neighbouring states.

He highlighted the concern of external buyers depleting local agro commodities, which not only affects cash retention within the state but also diminishes the value farmers receive for their produce.

“With the support of local traders, BIPC aims to position the state as a grain hub, facilitating the aggregation and sale of agricultural products to external buyers.

“We should be able to mop up this produce and sell it directly to traders from outside the state,” Asemakaha stated.

“The BIPC is to establish dedicated grain hubs where off-takers can purchase directly, ensuring farmers receive value for their money. This initiative will enforce standardised measurements and prompt payments upon delivery”, he added.

Asemakaha further stated that the introduced Warehouse Receipt System will ensure that these services are accessible throughout the state, guaranteeing that farmers receive fair value for their produce.

“This will protect our farmers to have value for their money. We want farmers to know how much a unit costs for their produce”, he emphasised.

The initiative aims to mitigate the risks farmers face in not receiving adequate compensation for their goods. BIPC also plans to utilise Benue Sacs for agro commodities, allowing for the tracking and management of farm produce.

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Lormua Michael, president of the Benue Traders Association, praised Asemakaha’s leadership initiatives and expressed commitment to supporting BIPC in achieving its objectives.

Other speakers, including Manasseh Torsue, president of the Benue Farmers and Traders Protection and Development Association, raised critical issues affecting market operations in Benue State.

He cited a lack of government involvement, inadequate market regulations, the absence of standard measurement scales, the promotion of customised sacs, high tax levies from unofficial sources, and numerous police checkpoints as significant barriers to market efficiency.