The Minister for Food and Agriculture, Dr. Bryan Acheampong, has predicted a significant reduction in food prices, with a projected drop of over 50 percent in the coming months. He attributed this expected decrease to various measures implemented by the government aimed at improving food production and supporting farmers affected 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,” Dr. Acheampong stated. He added, “We are beginning to see the results of prices of some foodstuffs going down around March and April next year.”
Dr. Acheampong made these remarks during an appearance on PM EXPRESS Business Edition on October 10, 2024, where he engaged host George Wiafe in a discussion about the state of Ghana’s food security and the measures introduced by the government to mitigate the effects of the dry spell.
He revealed that the government has supplied 200,000 metric tonnes of fertilizer to farmers as part of its efforts to ensure stable food production. “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 further disclosed.
The minister assured that the government is committed to providing relief specifically to farmers affected by the recent dry conditions. “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 emphasized. He pledged that farmers impacted by the dry spell will receive the necessary inputs to help replenish the nation’s food stock. “We have instituted several measures that will ensure that the affected persons get the inputs needed.”
Dr. Acheampong also touched on the provision of interest-free loans, stating that these loans will be made available to commercial farmers who have suffered due to the dry spell. “We have about GH₵50 million, and government is planning to use that to take up the interest cost on these loans,” he revealed.
He clarified that these loans are not “handouts” but will be distributed through the Agricultural Development Bank to ensure they reach the farmers in need.
Dr. Acheampong dismissed claims that the outlook for food supply in Ghana is bleak, maintaining that the future is promising. He also noted that the ministry has so far secured GH₵3.6 billion of its GH₵8 billion target for supporting agricultural initiatives.
