The 8th African Grain Trade Summit, scheduled to be hosted in Mombasa, Kenya aims at transforming grain trade value chains for more trade and better trade and a prosperous Africa. Disruption of grain trade has significant implications. The volume and value of grain trade among African countries is greatly impeded and instead Africa has become more dependent on food imports with the continent’s food import bill expected to reach US$ 110 billion by 2025. In addition, some estimates indicate that informal trade is more than half of total grain trade as traders circumvent costly bureaucratic process required to engage in formal trade.
8th African Grain Trade Summit
This means that increasing the volume of grain trade, connecting more markets together and increasing the diversity of grain products being traded whilst reducing the cost of doing business is important if the grain sector is to achieve its potential.
This transformation requires some significant policy reforms and mindset change in the way the grain sector is perceived by policymakers. The 8th AGTS therefore facilitates collegial discussions among over 400 high-level grain industry stakeholders to come up with practical measures that lead to positive transformation of grain trade value chains to deliver more and better grain trade and ultimately set Africa on a path towards sustainable prosperity.