Ghana may need at GH₵500 million to fully address the current surplus of locally produced rice in the market, the government has said.
Minister for Food and Agriculture, Eric Opoku, explained that the glut is a result of a bountiful harvest across the five northern regions, with harvesting still ongoing. He emphasized that the figures circulating in the media are estimates and not the actual harvest.
“We are witnessing food gluts because of the bountiful harvest we have had this year. Harvesting is still ongoing across the five northern regions, and all the figures being put out are estimates. They cannot be the actual,” Mr. Opoku said.
Early efforts to manage the surplus saw the release of GH₵100 million to the National Food Buffer Stock Company, but the funds were quickly exhausted.
Speaking on JoyNews’ Newsfile on Saturday, November 8, the Minister revealed that the government’s technical team estimated that at least GH₵500 million would be needed to completely clear the glut.
He said discussions are ongoing with partners such as the World Food Programme (WFP) and the private sector to secure additional support. An extra GH₵100 million has also been made available to help contain the situation, though due process must be followed before the money can be used.
“It is not the case that when you receive the money, you can just go to the market and start buying. They have to go through procurement processes to select buyers to purchase on behalf of the state,” Mr. Opoku explained.
He reassured the public that the government is acting to prevent discouragement among farmers. “If we don’t clear the glut, our farmers will be discouraged and lose interest in investing again in agriculture. I want the public to know that the government has not failed the people of Ghana. We have succeeded in producing in excess of what the market requires now, and we are working to contain the excess,” he said.
