Ghana’s palm oil industry is grappling with a significant production shortfall, undermining the country’s potential to compete on the global stage.
Despite the growing domestic and export market opportunities, the nation currently produces only about 300,000 metric tons of palm oil annually—far below the estimated national demand of 450,000 metric tons. This leaves a substantial supply gap of 150,000 metric tons, highlighting the urgent need for investment, policy support, and modernisation to boost production and reduce reliance on imports.
President John Dramani Mahama, speaking at the launch of the Feed Ghana Programme, said this shortfall underscored the urgent need to increase productivity and modernize the palm oil sector in line with global market trends.
He said Ghana must position itself to benefit from the projected growth of the global palm oil market, which is expected to hit $65 billion by 2027.
To close the production gap and tap into global opportunities, the president announced the implementation of a new palm oil industry policy. The policy is designed to offer incentives across the entire value chain, from cultivation to processing and export.
In addition, the Tree Crop Development Authority will prioritize the development of six key economic trees: palm oil, cashew, mango, coconut, shea, and rubber, the President addd that the focus would be on specifically palm oil production.
The Feed Ghana Programme forms the foundation of the government’s agricultural transformation agenda which seeks to modernize farming practices, increase food production, improve agricultural infrastructure, and establish agro-industrial zones across the country.
“Our vision is to modernize and expand the agricultural sector to create jobs, curb food inflation, and ensure national food security,” President Mahama said.
He said the programme would serve as the umbrella framework for all agricultural initiatives going forward.
