"India: Ban on rice exports is a wake-up call for Ghana to scale up rice production\u00a0"

" India: Ban on rice exports is a wake-up call for Ghana to scale up rice production\u00a0 \r\n\r\n Pundits have encouraged government to begin to\u00a0restrategize for Ghana\u2019s\u00a0rice production\u00a0to increase supply in response to domestic demand and improve export prospects. \r\n\r\n The Chief Executive Officer of\u00a0the Chamber of Agribusiness, Farmer Anthony Morrison and AfCFTA Consultant, Dode Seidu are the latest to make this call. \r\n\r\n Speaking to Kennedy Mornah on the Eye on Port program, they maintained that India\u2019s Ban on the exportation of rice should serve as a wakeup call for Ghana\u00a0to double up on her efforts to expand rice production. \r\n\r\n According to the CEO of the Chamber of Agribusiness, Farmer Morrison, Ghana\u2019s last policy strategy was developed in 2008, which is woefully inadequate for a sector that can attract a lot of economic fortunes for the nation. \r\n\r\n He said global events like India\u2019s Ban\u00a0is not cause for alarm, yet\u00a0\u201cmust afford us the opportunity to enhance and make the necessary deliberate investments into what are our national priorities.\u201d \r\n\r\n The avid agriculture advocate intimated that not only is Ghana\u2019s rice in demand abroad, but the nation has favourable climatic conditions that provides a comparative advantage. \r\n\r\n \u201cGhana exports rice to South Korea, Japan and the\u00a0sub region. In\u00a0fact,\u00a0Nigeria exports a lot of paddy rice from us. If you go to the Sogakope enclave, the Africa Tiger Group exports most of their rice to a factory\u00a0in Benin where they use it for beer and other derivatives. We have very fantastic climate. The humidity levels support rice production. If we intensify mechanisation in Volta Region alone and adopt the right climate action.\u201d\u00a0 \r\n\r\n He\u00a0acknowledged\u00a0the efforts of the\u00a0Alliance for a Green Revolution in Africa\u00a0(AGRA),\u00a0Japan International Cooperation Agency\u00a0(JICA), the West Africa Centre for Crop Improvement, University of Ghana (WACCI) and other local\u00a0and\u00a0international organisations in support of Ghana\u2019s rice industry. Yet, he called for more collaboration with government to streamline activities into one focused strategy. \r\n\r\n Based on the findings of the last Economic Returns Report for Ghana On Food Security, the CEO of the Chamber of Agribusiness called on government to align national policies to national priorities. He also said it is necessary for government\u00a0to exhibit genuine commitment to sector policies and strive to ensure harmonization of activities and programs under the focus strategy. \r\n\r\n He criticized government\u2019s\u00a0action to\u00a0discontinue\u00a0exemptions on agro-inputs which has spiked the cost of inputs, resulting in a trickledown effect on\u00a0the cost of production of agricultural produce. \r\n\r\n \u201cThe Tax Exemption Act of 2022 increased the cost of farm inputs. This mitigated against the activities of importers who otherwise, would have brought in much more inputs than they have brought in this year. Since January, together with all our stakeholders, we have been drumming home our concerns and it is only this month government has made its first comment on this.\u201d\u00a0 \r\n\r\n Trade Champion, Pan Africanist and AfCFTA Consultant Dode Seidu said, given India\u2019s actions and other global trends, developing countries like Ghana must be quick to respond proactively.\u00a0 \r\n\r\n \u201cThe implications may not be dire immediately but it depends on how we prepare. This is an agricultural product and you do not take a few weeks to become self-sufficient or have alternatives. Production takes time\u00a0and a lot of resources and technical considerations,\u201d\u00a0he cautioned. \r\n\r\n He revealed that such global trends naturally increase demand, therefore causing inflation for the product which has already begun in some parts of the world, and Ghana should find it wise to act now, and not suffer a miserable fate. \r\n\r\n Mr. Seidu said expansion in capacities to produce such as seed multiplication programs, irrigated rice production should be pursued aggressively. \r\n\r\n He said support services to drive rice production like access to finance should be critically considered to ensure that cost does not become a disincentive for the rice production business. \r\n\r\n \u201cBanks and all other financial institutions should look at innovative ways to support rice production industry especially commercial banks with high interest rates. The use of smart guarantees established by Ghana Incentive-Based Risk Sharing System (GIRSAL) to support the agricultural sector.\u201d \r\n\r\n The AfCFTA consultant said good causes like the Planting for Food and Jobs should be accelerated. He also argued that the country needs a new rice production strategy. "

"India: Ban on rice exports is a wake-up call for Ghana to scale up rice production\u00a0"

Finance Minister hails Ghana’s economic resilience amidst global turbulenceAMP

Nigeria misses windfall despite highest global upstream investments in 5 yearsAMP

MLS: Lionel Messi wins maiden Player of the Month AwardAMP

Man City’s Foden and Shaw win FWA Footballer of the Year awardsAMP

I wanted Harry Kane at Man United – Ten HagAMP

Bitcoin’s wild price swings point to the rising influence of ETF buyersAMP

Nigeria’s debt rating outlook lifted to positive by Fitch amid reformsAMP

Kwacha extends slump as drought worsens Zambia’s economic woesAMP

The lights are on in South Africa and many people are suspiciousAMP

Finance Minister hails Ghana’s economic resilience amidst global turbulenceAMP

Nigeria misses windfall despite highest global upstream investments in 5 yearsAMP

MLS: Lionel Messi wins maiden Player of the Month AwardAMP

Man City’s Foden and Shaw win FWA Footballer of the Year awardsAMP

I wanted Harry Kane at Man United – Ten HagAMP