Ghana: MoFA targets US$12bn revenue from selected tree crops

Published 2022년 8월 1일

Tridge summary

The Food and Agriculture Ministry in Ghana is planning to generate an annual revenue of US$12 billion from the exports of six tree crops: rubber, shea, mango, oil palm, cashew, and coconut. This is part of a diversification strategy to move away from reliance on cocoa, which has been under threat due to decreased production space. The Tree Crop Development Authority (TCDA) has launched a five-year strategic plan aimed at generating at least US$2 billion in revenue from each of the six crops by 2027. The plan, funded by the Swiss government and the International Finance Corporation (IFC), will address challenges such as low productivity, poor quality produce, price volatility, limited access to finance and markets, and a sub-optimal regulatory environment.

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Original content

Government, through the Food and Agriculture Ministry (MoFA) is anticipating to generate an annual revenue of some US$12 billion from exports of six selected tree crops – rubber, shea, mango, oil palm, cashew and coconut fruits – Sector Minister, Dr. Owusu Afriyie Akoto, has disclosed. The minister, who was speaking at the launch of a 5-year Strategic Plan of the Tree Crop Development Authority (TCDA) in Accra, said the strategic plan is designed to offer a lifeline to the tree crop sector in the country. “In the next five years – by 2027, our target is for each of the selected tree crops to generate a revenue of at least US$2 billion, equivalent to that of annual revenue of cocoa. This is achievable per stipulations of the strategy,” he said. Indeed, cocoa production, which has been the back bone of the economy as the most important cash crop for over 120 years, has been under threat as a result of decreased land for production in the last few years due to deforestation, climate ...

Source: Thebftonline