Friday, 31 October

Gov't injects GHS100 million to boost food security and stabilise prices

Business
Osmond Amuah,

The government has allocated GHS100 million to the National Food Buffer Stock Company (NAFCO) to buy surplus crops from farmers, store them, and ensure food security. 

This initiative forms part of the Ministry of Food and Agriculture's expenditure framework, aims to prevent post-harvest losses, stabilise food prices, and build a stronger national food reserve. 

The funding will allow NAFCO to absorb excess produce like maize and rice, especially after anticipated bumper harvests, and release it during emergencies or shortages. 

Addressing the media on Thursday, 30th October, 2025, the Deputy Chief Executive of the National Food Buffer Stock Company, Osmond Amuah, said the GHS 100 million will be used to strengthen the country's food reserves and prevent potential food shortages and price hikes. 

According to him, the funds will enable NAFCO to purchase and store surplus crops during peak harvest seasons, providing a safety net for farmers and ensuring that produce does not go to waste. 

This investment is intended to modernise agriculture, combat food inflation, and foster self-reliance in food security. 

He added that the move is a response to calls from farmer groups who were concerned about post-harvest losses and low market prices. 

Mr Osman emphasised that NAFCO will purchase key commodities such as maize and rice, store them in warehouses, and strategically release them to stabilise the market and cushion against future shocks. 

Touching on the prices of grains, Mr. Osman stated that the Producer Price Committee of the National Food Buffer Stock Company, in consultation with relevant stakeholders, has recommended GHS 5 per kilogram for paddy rice.

Source: Classfmonline.com/Samuel Payitey