The Minister for Food and Agriculture, Dr. Bryan Acheampong, has announced an expectation of more than a 50% reduction in food prices in the upcoming months.
He explained that this projection stems from various government measures designed to boost food production and assist farmers who have been negatively impacted by the recent dry spell.
“Because of this, we are expecting prices to go down, up to April next year, and this is based on verifiable data at the Agric Ministry”, he said.
“We are beginning to see the results of prices of some foodstuffs going down around March and April this year”, he added.
Dr. Acheampong made this announcement during the PM EXPRESS Business Edition on October 10, 2024, in a conversation with host George Wiafe.
The discussion focused on Ghana’s food security status and the government’s recent initiatives to address the impact of the dry spell.
He revealed that the government has provided farmers with 200,000 metric tonnes of fertilizer as part of these efforts.
“Government is also working to invest about 80-million-dollar worth of inputs into the market, that will help keep prices at some very low levels going forward”, he added.
Dr. Acheampong assured that the government is making significant efforts to deliver relief specifically to farmers impacted by the recent dry spell.
“Over the years, the Agric Ministry has led a lot of initiatives that extend support to farmers and the data is there for everyone to verify the beneficiaries”, he said.
He pledged that all farmers impacted by the dry spell would receive adequate support to enhance the country’s food supply.
“We have instituted several measures that will ensure that the affected persons get the inputs needed”.
Speaking on the interest-free loans extended to farmers, Dr Acheampong said the aid will go to commercial farmers who suffered from the dry spell.
“We have about GH₵50 million and the government is planning to use that to take up the interest cost on these loans”, he revealed.
He emphasized that the loans would not be mere “handouts” but would be funneled through the Agricultural Development Bank to assist farmers.
Rejecting claims of a bleak food supply outlook, he maintained that the future appears promising.
He revealed that the ministry has successfully secured approximately GH₵3.6 billion of the GH₵8 billion target.