24.7 C
Accra
Friday, September 13, 2024
BusinessGHS3.5bn lost by farmers affected by drought in Northern Ghana

Date:

GHS3.5bn lost by farmers affected by drought in Northern Ghana

Four hundred thirty-five thousand eight hundred seventy-two (435,872) farmers working on nearly 871,745 hectares of land have been significantly affected by a prolonged dry spell in northern Ghana, as reported by Agriculture Minister Bryan Acheampong

The hardest-hit crops are maize, rice, groundnut, soybean, sorghum, millet, and yam.

In a Monday press briefing in Accra, Mr. Acheampong noted that these farmers have faced an estimated investment loss of GH₵3.5 billion, along with a potential revenue loss of GH₵10.4 billion.

“As of 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 GH3.5 billion with a corresponding potential revenue loss of GH10.4 billion,” he stated.

Will you vote in the 2024 general election?
Will you vote in the 2024 general election?

Latest stories

Germany to accept 250,000 Kenyan workers under new labor agreement

Germany has reached a landmark agreement with Kenya to...

Postecoglou appeals for empathy during the Bentancur’s racing incident probe

Tottenham manager Ange Postecoglou defended Rodrigo Bentancur after the...

Mbappe and Vinicius unperturbed by criticisms; they are happy – Carlo Ancelotti

Real Madrid coach Carlo Ancelotti has expressed confidence in...

Ghanaians prioritize formal education over industrial development – Apostle Kwadwo Safo

Apostle Kwadwo Safo, a Ghanaian industrialist, inventor, and pastor,...

Related stories

Bank of Ghana’s July 2024 report reveals surge in non-performing loans

The Monetary Policy Report for July from the Bank...

SEC collaborates with NCA to combact fraudulent online investment schemes 

The Securities and Exchange Commission (SEC) has established a...

Ghana’s oil production could come to a standstill by 2024 if we lack investors – Dr. Manteaw

Co-chair of the Ghana Extractive Industry Transparency Initiative (GHEITI),...

Govt allocates GHS1.5bn to support customers of failed Gold Coast, Kron, other FMCs

Finance Minister revealed in the latest monthly economic briefing,...

SEC maintains vigilance on crypto while building regulatory framework

Director of the Securities and Exchange Commission (SEC), Rev....

Ghana’s oil industry risks collapse over lack of investors – GHEITI

Co-chair of the Ghana Extractive Industry Transparency Initiative (GHEITI),...

$40m Bitumen facility officially opened by Akufo-Addo in Tema

President Nana Addo Dankwa Akufo-Addo inaugurated Ghana’s largest bitumen...

LEAVE A REPLY

Please enter your comment!
Please enter your name here