Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»Vegetable farmers call for long-term investment to boost agricultural exports
    Commodities

    Vegetable farmers call for long-term investment to boost agricultural exports

    March 4, 20255 Mins Read


    THE Vegetable Producers and Exporters Association of Ghana (VEPEAG) is calling for long-term financial support to meet growing export demands as the country continues to rely heavily on imports despite its agricultural potential.

    The association said commercial farmers and exporters were struggling to capitalise on market opportunities due to insufficient long-term financing options from institutions such as the Ghana Export-Import Bank (GEXIM).

    This call follows the launch of the 2024 Annual Trade Report and the Quarter Four (Q4) Trade Newsletter in Accra last Wednesday by the Ghana Statistical Service (GSS).

    Vegetable imports 

    According to the report, vegetable imports, particularly from Burkina Faso, saw a significant fluctuation.

    “Compared to 2023, there were two changes in the top five import origins within Africa to the country in 2024, with Nigeria and Morocco replacing Togo and Cote d’Ivoire.

    Imports from Nigeria amounted to GH¢4.1 billion, while imports from Morocco totalled GH¢2.0 billion. Burkina Faso, which primarily supplied vegetable products in 2023, recorded a decline by more than half in its share of Ghana’s imports, from 89.8% to 40.7% in 2024,” it said.

    The report indicated that vegetable products, key imports from Burkina Faso, highlight the need to explore investing in the local production of vegetables. 

    Financing gap

    In an interview with the Graphic Business, the President of VEPEAG, Dr Felix Mawuli Kamassah, explained that agricultural lending constituted less than 5% of total bank lending in Ghana, with vegetable farming receiving a smaller portion.

    He said while GEXIM was established to support export-oriented sectors such as vegetable production, support to the agricultural sector has been inconsistent and insufficient to create transformative change.

    “Our members can expand production significantly but lack the capital investment needed for modern farming equipment and infrastructure. With proper financial backing, we could reduce the nation’s dependence on imported vegetables and boost export earnings.”

    “We want the government to leverage the support of GEXIM, which was set up to aid sectors like agriculture and export. Currently, the bank is not channelling enough resources into these areas. Without capital, we cannot take advantage of opportunities, especially in the export market,” Dr Kamassah added. 

    Irrigation

    He explained that the lack of functioning irrigation facilities in the country significantly affects yield, leading to increased reliance on vegetable imports from neighbouring countries such as Burkina Faso and Niger.

    To revitalise the sector, boost production and create jobs, he urged the government to prioritise investment in mechanisation, irrigation and improved seed varieties.

    “As climate change exacerbates weather unpredictability in the region, long-term investments in agricultural technologies, drought-resistant seeds and modern farming techniques are needed to reduce Ghana’s food import dependence and capitalising on export opportunities,” Dr Kamassah added.

    Food import 

    In 2024 alone, Ghana spent a staggering GH¢38.95 billion on imported food, showing just how much the country relies on foreign markets to meet local demand.

    Between 2023 and 2024, the value of food products exported increased by GH¢12.6 billion, while food product imports rose by GH¢12.2 billion.

    However, the share of food products declined from 2023 to 2024, with 2.4 percentage points decline for exports and 0.8 percentage points increase for imports.

    Cocoa products (62.1%) recorded the highest for exports followed by edible fruits and nuts (11.2%).

    Grains, animals or vegetables, fats and oils, cereals, meat, sugar products and fish collectively constitute over half (53.6%) of all food product imports into Ghana, reflecting a significant portion of the country’s food imports.

    SONA 

    Delivering his maiden State of the Nation Address since being elected to office, President John Dramani Mahama, said “Ghana has fertile lands, abundant water and human resources. Yet, we face a paradox. 

    Our food import bill continues to soar, reaching alarming levels of over US$2 billion annually. In addition, rising food inflation is burdening households and threatening livelihoods.” 

    To address this, he said the government was implementing several well-considered policies to grow the agricultural sector, including agro-processing. 

    This, he said, will be backed by a reliable power supply, to meet our country’s needs while advancing exports to earn foreign exchange and strengthen our economy.

    For instance, he said the Agriculture for Economic Transformation Agenda (AETA) will modernise agriculture, enhance agribusiness, ensure food security, lower food inflation, boost exports and create sustainable jobs.

    In addition, he said the Feed Ghana Programme will increase food production and reduce prices through projects like the Grains Development Project, focusing on rice, maize, and soybean production, adding that the Vegetable Development Project will target crops such as tomatoes, onion, and pepper. 

    “Our poultry farm-to-table project will eliminate poultry imports and increase local production. Ghana imports 95% of its poultry needs, which costs over US$ 300 million annually. 

    To reverse this trend, the government plans to revamp the poultry sector by investing in hatcheries, feed mills, processing and distribution, working toward eliminating poultry imports,” President Mahama said.

    To strengthen the connection between agriculture and industry, the President said the government will prioritise value addition, processing and distribution. 

    “This will position agriculture as a profitable and appealing activity, making it more attractive to young people,” he added.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Commodity options strategies for easing participation of hedgers and small stakeholders

    Commodities

    Agricultural research boost: PAU secures Rs 4 crore GoI project for predictive breeding of guava | Ludhiana News

    Commodities

    The 9 new heavy metal songs you need to hear this week

    Commodities

    Colorado’s soil health program takes a hit as the federal government pulls millions in funding from the Climate Smart Commodities grant 

    Commodities

    The brilliant new metal bands you need to hear in August 2025

    Commodities

    Metal Hammer Tracks Of The Week: August 1, 2025

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Investments

    Le bénéfice de SM Investments augmente de 9 % au premier trimestre

    Precious Metal

    Capstone Copper obtient le permis optimisé pour Mantoverde

    Investments

    MTC just awarded $2.6M in investments; three KC tech startups earn state backing

    Editors Picks

    Beyond Dogecoin and Shiba Inu: Exploring the rise of a new cryptocurrency

    May 25, 2025

    Monumental Energy annonce le début des travaux de reconditionnement du gisement Copper Moki Reconditionnement en Nouvelle-Zélande

    May 20, 2025

    TriSummit Utilities Inc. Closes $150 Million Medium-Term Note Offering

    April 24, 2025

    9th Circ. Reboots Manipulation Suit Against Binance.US

    August 13, 2024
    What's Hot

    APRNEWS: André Silver Konan face aux attaques contre Dominique Ouattara

    February 22, 2025

    Ceiba Investments effectue un paiement de 5,5 millions d’euros aux porteurs d’obligations convertibles

    July 8, 2025

    CATL, le champion chinois des batteries, réalise la plus importante introduction en Bourse de l’année

    May 20, 2025
    Our Picks

    Owner of Mid South Retirement Services in Boyce pleads guilty to wire fraud

    August 16, 2024

    3 Leading Dividend Stocks To Consider With Up To 5.5% Yield

    February 13, 2025

    Lyon 9e. Chez Gac Technology, on soigne l’intégration des nouveaux 

    February 3, 2025
    Weekly Top

    UFC icon Dustin Poirier confirms new career post-retirement

    August 1, 2025

    CMP Next Edge 2025 Critical and Precious Metals Short Duration Flow-Through Limited Partnership Raises $9,353,250 on First Closing

    August 1, 2025

    Travis Kelce stuns NFL fans with telling transformation that hints retirement could be closer than ever

    August 1, 2025
    Editor's Pick

    “les ETF ont montré une certaine résilience”

    May 20, 2025

    Industrial Precious Metal Recycling Service Market Price Trends Analysis BR Metals, CMEG, Heraeus – Economica

    July 22, 2024

    Gold climbs Rs 10, silver down by Rs 100; yellow metal trading at Rs 73,210 | Commodities

    August 22, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.