Article
Complaints regarding SB1 standard to be resolved by storage operators
Published: 04/11/2024
The Johannesburg Stock Exchange
(JSE) has been receiving complaints that soya beans being delivered as a SB1
standard, do not meet quality expectations. This is affecting the ability of
JSE clients to access their stocks in a timely manner as they have to wait for
the stock to be sifted to remove foreign matter. The JSE believes that when a
storage operator issues a silo certificate, the client should receive the
quality and quantity of the product stated on the JSE certificate without the
need to sift the product. Sieving delays the process of getting the product to
the crushers and waiting time adds costs to the processor.
The JSE advocates that storage
operators should assist their JSE clients to receive the correct quality and
quantity of their that a storage operator cannot find a client’s stock at a
particular location and has to outload at another location, it should be borne
in mind that the cost of transportation is the responsibility of the storage
operator. If such issues are raised with the JSE, it will refer the client to
the storage operator for a resolution. – Agbiz Grain