Beginning July, coffee farmers from across the country will be able to access payments from a 3 billion shillings ($30 million) cherry advance revolving fund, a move aimed at resolving the problem of delays in coffee payment cycles.
“All coffee farmers across the country will be able to access the cherry advance at a modest interest rate of three per cent,” said the President when he opened the 124th session of the International Coffee Council in Nairobi.
The coffee meeting is being attended by delegates from coffee growing and consuming countries from across the world.
Kenyatta announced that under a new regulatory framework, the coffee sector will be liberalized to usher in a new era of direct marketing by co-operative societies.
“To protect the sweat of the brow of coffee farmers, my administration has embarked on a programme to entrench the principles of good corporate governance within the internal management of co-operatives,” the President said
Another key intervention announced by Kenyatta include an ambitious rehabilitation of 500 pulping factories in 31 coffee growing counties, the rehabilitation of planting materials and more investments in research and extension services.
Kenyatta said the reforms are designed to boost production, reduce the cost of processing and milling as well as transaction costs at the auction market.