MoC implements Warehouse Receipt Financing System

The implementation workshop for warehouse receipt financing was held by the Ministry of Commerce in collaboration with the Myanmar Rice Federation at the Ministry of Commerce in Nay Pyi Taw on 30 June 2023.
At the workshop, the MoC Deputy Minister stated that a warehouse receipt financing system is being implemented to prevent farmers from losing their profits. The warehouse receipt financing system is purposed for farmers to obtain loans from banks with the certificate of receipt received by depositing crops in storage warehouses as collateral. In this system, farmers are the owners of crops, warehouse owners in rural areas are the certificate issuers, the government and private banks are lenders who issue loans based on warehouse receipts, and the government departmental organizations are policymakers, he explained.
He also said that the warehouse receipt financing system is being implemented in order to further develop agricultural businesses, improve the socio-economic lives of small block farmers, and reduce post-harvest losses.
By implementing the system, it will be possible to prevent the decrease in profits, remedy the losses, and help stabilize the rice price due to the decrease in the price of rice during the harvest. — TWA/CT

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