The Chief Executive Officer of the National Food Buffer Stock Company, George Abradu-Otoo, has stated that Ghana requires at least ¢1.5 billion to establish a robust national food reserve system, significantly more than the ¢300 million currently available to the organisation.
Speaking on JoyNews’ PM Express Business Edition, Mr. Abradu-Otoo explained that although the government has provided funding to support the company’s operations, the amount is insufficient to purchase and store large quantities of surplus grain from farmers.
According to him, the Ministry of Finance, under the leadership of Dr. Cassiel Ato Forson, allocated an additional ¢200 million to the company, bringing the total available funding to ¢300 million. While he described the support as a positive step, he emphasized that a much larger investment is needed to effectively mop up excess agricultural produce and strengthen the country’s food security system.
Mr. Abradu-Otoo noted that the current funding has enabled the company to begin building food reserves but falls short of the resources required to make a substantial impact on grain storage and market stabilisation.
Despite the funding gap, he commended the government for prioritising the establishment of a national food reserve, describing it as a significant policy shift aimed at improving food security.
He observed that Ghana has lagged behind several countries in the West African sub-region in developing strategic food reserves, despite being a major agricultural producer. According to him, many neighbouring countries have long maintained food stock systems to help manage supply disruptions and fluctuations in food prices.
The Buffer Stock CEO said expanding investment in the programme would allow the company to purchase more surplus grain from farmers, reduce post-harvest losses, support agricultural producers during bumper harvests, and create a stronger safeguard against future food shortages.
His comments come amid growing discussions on food security, market stability, and the need for stronger interventions to protect both farmers and consumers from supply shocks and price volatility.
Source: myjoyonline.com
