Finance Minister Ato Forson Announces GH¢200 Million Intervention to Tackle Grain Glut as Private Sector Boosts Agribusiness Value Chain

Finance Minister Dr. Cassiel Ato Forson has announced that the government is mobilizing significant resources to address the current maize and rice glut affecting farmers across the country. To stabilize market prices and protect agricultural livelihoods from financial losses caused by bumper harvests, the government has allocated GH¢200 million to the National Food Buffer Stock Company. This strategic move aims to purchase surplus produce, ensuring that farmers have a guaranteed market while preventing price crashes that could threaten future food security. Minister Forson emphasized that local institutional programs are also being encouraged to prioritize domestic produce to help absorb the excess supply.

Complementing these government efforts, the private sector is enhancing the agricultural supply chain with new innovations tailored for smallholder farmers. Yara Ghana recently launched two specialized fertilizer products, "Yara Winner Plus" and "Yara Legume," during a stakeholder engagement in Walewale, North East Region. These products are specifically designed to optimize the nutrition of fruits, vegetables, and legumes, addressing the challenges of rising production costs and climate variability. Yara’s Country Director, Madam Theresa Randolph, reiterated the company’s commitment to supporting the sector, while the North East Regional Director of Agriculture, Mr. Edward Nasara, noted that such tailored solutions are crucial for attracting youth into farming and increasing overall productivity.

Beyond raw production, there is a renewed focus on value addition and business scaling for small and medium-sized enterprises (SMEs) within the sector. Food scientist Dr. Mavis Owureku-Asare has called on agribusinesses to leverage the upcoming second edition of the Agribusiness Launchpad and Accelerator Programme, scheduled for August 5-7 at the Absa Head Office in Accra. This initiative is designed to provide critical training in food processing, marketing, and financing. By bridging the gap between farming and the market, the programme aims to help entrepreneurs transform their operations into sustainable, growth-oriented businesses through expert networking and resource allocation.

These combined efforts from the Mahama administration and private stakeholders represent a holistic strategy to strengthen Ghana's agricultural foundation. While the government's immediate financial intervention provides a safety net against market volatility, the introduction of advanced inputs and SME development programs ensures long-term resilience and industrialization. Together, these initiatives seek to transform the current surplus into an opportunity for economic growth, ensuring that the country's agribusiness sector remains a robust pillar of the national economy.