The Minister for Food and Agriculture and Member of Parliament for Abetifi Constituency, Bryan Acheampong, has revealed that Ghanaian farmers could face a financial loss of GHC7.4 billion if the current dry spell persists.
According to him, preliminary reports have it that, a total of 928,523 farmers who are cultivating 1,857,000 hectares of land are in danger of suffering negative impacts, such as crop failure.
“Preliminary reports indicate that about 928,523 farmers cropping 1,857,000 hectares are at risk. These farmers will lose an estimated investment of GHS7.4 billion if there is total crop failure. The corresponding revenue loss is estimated at GHS 22.2 billion representing 10% of agriculture GDP of GHS 220 billion.”
Mr Acheampong added that, as of August 20th, 435,872 farmers who are cultivating about 871,745 hectares of land have been directly impacted by the issue due to the adverse weather conditions.
The most affected crops he mentioned were, include maize, rice, groundnut, soybean, sorghum, millet, and yam.
“As at 20th August, 435,872 farmers cultivating an estimated area of 871,745 hectares have been directly affected. Maize, rice, groundnut, soybean, sorghum, millet and yam are the most widely affected crops across these regions. The affected farmers have lost an estimated investment of GHS 3.5 billion with a corresponding potential revenue loss of GHS10.4 billion,” the Agric minister added.