While grain farmers are bemoaning the current grain glut in the country, the Chamber of Agribusiness Ghana (CAG) is seeing a golden opportunity and a blessing in disguise.
The Agribusiness Chamber says this is an opportunity for the government to turn the challenge into a strategic advantage by clearing its grain debt owed to the ECOWAS Regional Food Security Reserve.
According to the Chamber’s Chief Executive Officer, the government had borrowed some grains from the ECOWAS buffer stock during food shortages in previous years. With warehouses across the country now overflowing with unsold maize, millet, and sorghum, he says it is time to “mop up” the excess and repay that debt.
“We borrowed some grains from the ECOWAS buffer,” he reminded. “The government could use this opportunity to mop up some of these grains and supply the ECOWAS storage facility so that we can pay off our debts.”
This proposal forms part of the chamber’s numerous suggestions to help deal with the current glut crisis.
Some farmers are agitated over the glut, as it has locked up their capital and also threatens their ability to pay off their loans.
These farmers are struggling to sell their produce due to oversupply and low market prices. The situation has been worsened by limited storage facilities and weak market linkages, leaving large quantities of grains at risk of spoilage.
CAG says a government-led grain purchase programme could ease farmers’ losses while strengthening Ghana’s relationship with ECOWAS. According to the CEO of the Chamber, Anthony Morrison, this is the time for the government to be strategic. He says he expects the government to come up with a robust plan that not only gives us resilience but also protects the farmer and the economy.
Other agric sector players say that beyond settling debts, the move could help stabilize market prices and rebuild national grain reserves against future shortages. It would also demonstrate fiscal responsibility and regional cooperation at a time when many West African countries are struggling to maintain food security.
For now, many farmers across the country continue to count their losses as market prices plunge. However, there will be hope for them if the government heeds the Chamber’s advice. The grain glut might just become the country’s best chance to wean off its debt with the regional buffer stock.
