US$200m chicken import bill puts local poultry production in focus – Forson

Finance Minister Dr Cassiel Ato Forson highlighted Ghana's significant annual spending of around US$200 million on chicken imports, suggesting that local maize and soybean production could bolster the domestic poultry industry. He emphasized the importance of agricultural modernization in reducing food imports during a budget presentation to Parliament.

Forson pointed out Ghana's potential advantage of land, water resources, and a young population, but criticized the existing agricultural model as insufficient. He estimated the country's annual food import bill at approximately US$3.5 billion, questioning the ongoing dependence on foreign goods that Ghana could produce. The minister's remarks followed inquiries about investments in commercial agriculture and agribusiness, including poultry, maize, soybean, rice, oil palm, sugar, aquaculture, and vegetables.

He also raised concerns about fish imports and reliance on Burkina Faso for onions and tomatoes. Dr Forson expressed a desire for greater domestic processing of Ghana's cocoa, noting that the current model of selling beans abroad limits value addition. He indicated that a new Cocoa Board Act allows for 50% local processing, with a legislative instrument aiming to increase this to 100% by 2030.

Discussions were underway with Dangote to process 500,000 metric tonnes of cocoa locally, with the parties reviewing the terms of a proposed contract.