TIG Post

Tag: production

  • Maize production costs increase by 600% in 5 years

    The cost of producing maize has skyrocketed from GH¢1,200 per acre in 2020 to GH¢8,100 per acre in 2024, posing a serious threat to maize cultivation and food security, given its crucial role as a staple crop in Ghana.

    This represents an alarming increase of over 500% in maize production costs per acre.

    Over the past five years, the cost trajectory has been steep: starting at GH¢1,200 in the 2020/2021 season, nearly doubling to GH¢2,153 in 2021/2022, rising further to GH¢5,513 in 2022/2023, and reaching GH¢6,277 in 2023/2024.

    This year, costs have surged from GH¢6,277 to GH¢8,100, compelling many farmers to reconsider maize cultivation altogether.

    With an expected yield of 12 bags per acre and a selling price of GH¢250 per bag, farmers are projected to earn GH¢3,000 in revenue, which falls significantly short of the production cost of GH¢8,100.

    Executive Director of Agrisolve Ghana, Elorm Goh, shared these concerning figures at the Graphic Business/Stanbic Bank Breakfast meeting, underscoring the profound economic challenges facing farmers.

    The sharp rise in production costs can be attributed to escalating prices of seeds, fertilizers, and land preparation.

    Seeds that once cost GH¢100 per acre now command GH¢1,100, while fertilizer costs have risen to GH¢2,820 per acre, and land plowing costs GH¢250 per acre. Ms. Goh highlighted these increases as consequences of currency depreciation and heavy reliance on imported inputs.

    Ms. Goh emphasized that adverse weather conditions further compound these challenges, jeopardizing maize production and impacting industries such as poultry farming, which heavily relies on maize as feed.

    Addressing these critical issues, Ms. Goh stressed the necessity for a holistic agricultural strategy, advocating for increased local seed production and reduced dependence on costly imports. She emphasized the urgency of comprehensive planning and investment across the agricultural value chain to enhance productivity and resilience.

    Kwesi Korboe, CEO of GIRSAL, echoed concerns about food inflation, pointing out Ghana’s heavy reliance on food imports, particularly affecting the poultry sector. He emphasized maize’s critical role in poultry feed and called for measures to ensure competitive maize prices, vital for sustaining local poultry production and mitigating food inflation.

    Mr. Korboe urged strategic initiatives to boost maize productivity in Ghana, essential for safeguarding food security and reducing dependency on expensive imports in the agricultural sector.

  • 3 film production companies granted €90,000 by NFA Awards

    3 film production companies granted €90,000 by NFA Awards

    The National Film Authority (NFA) has awarded €90,000 in grants to three distinguished film production companies to support their upcoming projects.

    These grants, part of the Creation Africa and CLAP ACP2 Co-production Grant, aim to stimulate co-production ventures and drive innovation in local cinema.

    This initiative is a collaborative effort involving the French Embassy, Creation Africa, and the Organisation Internationale de la Francophonie (OIF), working in concert with the NFA.

    The NFA announced the grant recipients at the Accra Tourist Information Center on Tuesday, June 25, 2024.

    Juliet Asantewaa, CEO of the NFA, presented the awards to the winning companies.

    Driving Park Limited received the largest grant of €80,000 for their project ‘A Dream to Die For,’ which addresses the issue of illegal mining.

    Adjoa Films was granted €5,000 for ‘Regulated Minds,’ a narrative exploring male vulnerability and mental health.

    Midnight Run Productions also secured €5,000 for ‘Tantra,’ a horror film that will bring the thrills and chills of Accra’s nightlife to the silver screen.

    As reported by adomonline.com, Juliet Asantewaa, addressing the media, elaborated on the selection process, saying, “We put out a call after we thought that we had enough to start, and a lot of productions came through. But we were looking at specific things, and key among them were co-productions.”

    She said that the strategic investment by the NFA is a clear indication of its commitment to nurturing talent and expanding the horizons of Ghanaian filmmaking.

  • PPI for October shoots to 65.2%

    The Producer Price Index (PPI) for October 2022 rose to 65.2% up from the 45.9% recorded in September.

    The report from the Ghana Statistical Service (GSS) indicates that between October 2021 and October 2022, year-on-year, the PPI increased by 65.1%, representing a 19.3 percentage points increase in producer inflation relative to the rate recorded in September 2022: 45.9%.

    The month-on-month change in the PPI between September and October 2022 was 15.4%.

    “Mining and quarrying (86.4%), manufacturing (73.1%), transport and storage (71.4%) recorded the highest rates, while information and communication activity recorded the lowest rate of 1.4% in October 2022,” the GSS report released on Wednesday, November 16, 2022 said.

    The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services.

     

  • Sachet water prices to go up again from Monday

    The National Association of Sachet and Packaged Water Producers say an increment in treated water is imminent, adding that it intends to announce the new prices by Monday.

    They have therefore urged the public to brace themselves for another increment in no time.

    The President of the Association, Magnus Nunoo explained that they are set to increase their prices in the coming days as a result of the high cost of production.

    Mr Nunoo in an interview on the Kumasi-based Otec 102.9 FM’s breakfast show, “Nyansapo” on Friday, October 21, 2022, blamed the high production cost on the continuous depreciation of the Cedi against other major trading currencies.

    He noted that they will be forced to halt production and lay off their workers if government fails to address the issue.

    “We will be compelled to shut down production and distribution of treated water if government does not address the continuous depreciation of the Cedi,” he said.

    “There are a host of factors which are also impacting negatively on our business, “take the hikes in fuel prices and the astronomical increase in electricity cost among others is swallowing all our capital,” he stated.

    He disclosed that electricity cost has ballooned from 15 % to 20 % of the production price as a result of the recent increase in utility tariffs.

    Mr Nunoo has therefore called on the economic management team to proffer pragmatic measures to halt the current problems in the country’s economy to avoid grounding their business.

     

  • Cement production can contaminate our salt – Panbros Salt Industries Limited

    Operations Manager, Panbros Salt Industries Limited, Mr Daniel Boye, a local salt production company, says the operation of a Chinese cement production firm in its vicinity could contaminate its product.

    He, therefore, called for the shutdown of the Empire Cement Company Ghana Company.

    Mr Boye said the dust from cement production could settle into salt ponds and contaminate the product.

    He said this on the sidelines of a press conference organised by McCarthy Hill Residents Association over the locatiion of the cement factory.

    The Association expressed displeasure at the location of the cement factory in the residential area.

    Mr Boye said the Panbros area was an environmentally protected Ramsar site and that the location of a cement factory in the area could harm the ecology of the sensitive area.

    He said Panbros had engaged the cement manufacturing company on its location and possible pollution of the environmental and told the factory would be using a technology that would not release dust in to the atmosphere.

    Meanwhile, Nana Obokom Atta IX, Co-founder, Empire Cement Company Ghana, said the factory’s location was not part of the wetlands reserves.

    Nana Atta said they had been given the green light by regulatory authorities to produce cement at the location.

    He added that the Company had put in place measures not to cause harm to residents.

    “This is a multimillion dollar investment project that will provide jobs for the teeming youth and contribute to development in the community and the country as a whole,” the Co-Founder said.