By Cecil MENSAH
The Ministry of Food and Agricultural (MOFA) is considering establishing a commodity exchange to help market Ghanaian crops across the country.
According to MOFA, this will help transform the agricultural sector of the economy and offer some support for smallholder farmers across the country.
Dr. Owusu-Affriyie Akoto, Minister for Food and Agriculture, announced this when he inaugurated a committee to help operationalize the establishment of the Ghana Commodity Exchange (GCE) in the country.
He said the establishment of GCE is in line with the agenda of president Nana Addo Dankwa Akufo-Addo to have agriculture transformed. It is also part of the goals of the “Planting for Food and Jobs” project.
He revealed that Ghana is expecting huge harvests in maize, tomatoes and pepper at the end of the year, adding that the rumours that the Fall Army Worms have destroyed everything was not true.
He added that the destructions by the Fall Army Worms have been brought under control and the Ministry is feverishly preparing for the huge harvest in the above mentioned crops.
The operations of the commodities exchange, if established, will boost the activities of the National Food Buffer Stock Company in the purchase of food surpluses from the ‘Planting for Food and Jobs’ project.
He said since the project was launched the Ministry has distributed improved seeds and fertilizers to over 185 farmers who have registered with the project.
He noted that with the assistance of the Canadian government the Ministry will purchase three hundred pick-ups and three thousand motor bikes to boost extension services across the regions.
In spite of these, the Ministry has engaged 2,000 National Service personnel to serve as extension service providers to educate farmers on the use of right seedlings for the project.
He noted the Ministry intends reviving 240 warehouses at a cost of GHC25 million across the country. These warehouses are to be obtained with the assistance of COCOBOD with the storage capacity of two thousand metric tons.
Mr Seth Akoto, Director of Crop Services at the Ministry of Food and Agriculture, said immediate past President John Dramani Mahama introduced the Commodities Exchange in 2014 but could not launch it.
He said the commodities and exchange will offer transparency in the marketing of crops such as maize, paddy rice and beans which are being produced by the project.
Mr. Nathan Mintah of Eight-Miles Equity, the lead person in the operationalization of the Ghana Commodity Exchange, gave the assurance that they will move fast to operationalize it to create jobs for the people in the sector.
