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    Dr. zanetor’s Monthly Agribusiness Skills and Jobs for the Youth Roadshow Bounces Back for its Third Edition

    Dr. zanetor’s Monthly Agribusiness Skills and Jobs for the Youth Roadshow Bounces Back for its Third Edition

    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

    Register Now as an Exhibitor or Trainee for the Fifth Livestock, Poultry, and Fisheries Tradeshow

    Register Now as an Exhibitor or Trainee for the Fifth Livestock, Poultry, and Fisheries Tradeshow

    Celebrating 13 Years of Connecting Farmers, Input Dealers and Processors to Market- Pre-Harvest the Path Way

    13th Annual Pre-Harvest Agribusiness Exhibition and Conference Launched

    Modernizing & Improving Market access for women in Agribusiness

    Agriwoman Marketplace Returns Energetically after a short break, expecting to draw about 50 Women in Farming, Marketing and related Agribusiness Value chain Activities for its 13th Edition

    Fifth Monthly Executive Beginner Agribusiness Masterclass to Focus on Yogurt Making and Dried Fruit Production

    Fifth Monthly Executive Beginner Agribusiness Masterclass to Focus on Yogurt Making and Dried Fruit Production

    NRCC Pledges Collaboration with Agrihouse Foundation to Develop Its 10 Acre Bamvim Land into A Model Agricultural Site 

    NRCC Pledges Collaboration with Agrihouse Foundation to Develop Its 10 Acre Bamvim Land into A Model Agricultural Site 

    Fiifi Kwetey to represent fmr President Mahama at the Nebraska-Ghana Trade and Investment forum

    Fiifi Kwetey to represent fmr President Mahama at the Nebraska-Ghana Trade and Investment forum

    Celebrating 13 Years of Connecting Farmers, Input Dealers and Processors to Market- Pre-Harvest the Path Way

    “All Roads Lead to Bamvim as Agrihouse Foundation Gears Up for the 13th Annual Pre-Harvest Agribusiness Exhibition Conference Launch”

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    Dr. zanetor’s Monthly Agribusiness Skills and Jobs for the Youth Roadshow Bounces Back for its Third Edition

    Dr. zanetor’s Monthly Agribusiness Skills and Jobs for the Youth Roadshow Bounces Back for its Third Edition

    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

    Register Now as an Exhibitor or Trainee for the Fifth Livestock, Poultry, and Fisheries Tradeshow

    Register Now as an Exhibitor or Trainee for the Fifth Livestock, Poultry, and Fisheries Tradeshow

    Celebrating 13 Years of Connecting Farmers, Input Dealers and Processors to Market- Pre-Harvest the Path Way

    13th Annual Pre-Harvest Agribusiness Exhibition and Conference Launched

    Modernizing & Improving Market access for women in Agribusiness

    Agriwoman Marketplace Returns Energetically after a short break, expecting to draw about 50 Women in Farming, Marketing and related Agribusiness Value chain Activities for its 13th Edition

    Fifth Monthly Executive Beginner Agribusiness Masterclass to Focus on Yogurt Making and Dried Fruit Production

    Fifth Monthly Executive Beginner Agribusiness Masterclass to Focus on Yogurt Making and Dried Fruit Production

    NRCC Pledges Collaboration with Agrihouse Foundation to Develop Its 10 Acre Bamvim Land into A Model Agricultural Site 

    NRCC Pledges Collaboration with Agrihouse Foundation to Develop Its 10 Acre Bamvim Land into A Model Agricultural Site 

    “Connecting the Unconnected” – 13th Annual Pre-Harvest Agribusiness exhibition and conference Slated for October 24-26

    “Connecting the Unconnected” – 13th Annual Pre-Harvest Agribusiness exhibition and conference Slated for October 24-26

    Agrihouse Foundation and GhaNeb LLC Partner, to Create Agribusiness Trade and Investment Opportunities for Ghanaian Agribusinesses in Nebraska

    Agrihouse Foundation and GhaNeb LLC Partner, to Create Agribusiness Trade and Investment Opportunities for Ghanaian Agribusinesses in Nebraska

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    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

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    Brazil declares 180-day animal health emergency amid avian flu cases in wild birds

    LIVESTOCK-CME live cattle hit record high as meatpackers scramble for supplies

    Dutch Livestock Farmers to Receive Payment for Halting Operations

    African Swine Fever Outbreaks Boost China’s Pork Production to Record High

    African Swine Fever Outbreaks Boost China’s Pork Production to Record High

    Massive Explosion at Texas Dairy Farm Claims Lives of 18,000 Cows

    Massive Explosion at Texas Dairy Farm Claims Lives of 18,000 Cows

    LIVESTOCK-CME live cattle hit record high as meatpackers scramble for supplies

    LIVESTOCK-CME live cattle hit record high as meatpackers scramble for supplies

    Seafarers cautioned to observe all vessel safety precautions – NAFAG

    Seafarers cautioned to observe all vessel safety precautions – NAFAG

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    Australia: Crop exports set for record high after heavy rains

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    North Korea: Kim Jong Convenes Meeting to Strengthen Country’s Economy & Agri Sector Fearing Food Shortage

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    Agri-Sports Meets Agribusiness: Meet Coach Eric, Guide and Drills Mentor at the 5-day bootcamp

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    Meet Participating Schools for the 6th AG-STUD Boot camp 2023

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    AG-STUD 2023 to host Motor King Manufacturer, Madam Nora Gao as mentor for the 5-day Bootcamp

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    UGBS With Funding From A.M.G Limited Commissions Innovation and Incubation Hub

    OCP Africa Pledges Financial Support towards Agric Projects in O’Reilly and Accra Academy Senior High Schools

    OCP Africa Pledges Financial Support towards Agric Projects in O’Reilly and Accra Academy Senior High Schools

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    Hon. Dr. Zanetor Agyeman-Rawlings Donates 3 Laptops to Support Agric Students

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    Agribusiness students urged to explore value chain opportunities through digitalization

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    Change Your Poor Perceptions about Agric Students, 5th AG-STUD Campers Call on Teachers and Mates

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      “Connecting the Unconnected” – 13th Annual Pre-Harvest Agribusiness exhibition and conference Slated for October 24-26

      “Connecting the Unconnected” – 13th Annual Pre-Harvest Agribusiness exhibition and conference Slated for October 24-26

      Unscrupulous Persons Diverting Cocoa Fertilizers and Agri-Inputs – COCOBOD

      Unscrupulous Persons Diverting Cocoa Fertilizers and Agri-Inputs – COCOBOD

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      PFJ Seed Suppliers Beg for GH¢207m Debts

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      Consider Neem Oil as Organic Pest Control Agent— Expert advocates

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      8th Monthly ‘Agri-Woman Marketplace’ Set for Friday, November 12

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      Digitalization Needs Agric & Agric Needs Appropriate and Innovative Digital Systems— Agrihouse Foundation Director

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    Dr. zanetor’s Monthly Agribusiness Skills and Jobs for the Youth Roadshow Bounces Back for its Third Edition

    Dr. zanetor’s Monthly Agribusiness Skills and Jobs for the Youth Roadshow Bounces Back for its Third Edition

    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

    Register Now as an Exhibitor or Trainee for the Fifth Livestock, Poultry, and Fisheries Tradeshow

    Register Now as an Exhibitor or Trainee for the Fifth Livestock, Poultry, and Fisheries Tradeshow

    Celebrating 13 Years of Connecting Farmers, Input Dealers and Processors to Market- Pre-Harvest the Path Way

    13th Annual Pre-Harvest Agribusiness Exhibition and Conference Launched

    Modernizing & Improving Market access for women in Agribusiness

    Agriwoman Marketplace Returns Energetically after a short break, expecting to draw about 50 Women in Farming, Marketing and related Agribusiness Value chain Activities for its 13th Edition

    Fifth Monthly Executive Beginner Agribusiness Masterclass to Focus on Yogurt Making and Dried Fruit Production

    Fifth Monthly Executive Beginner Agribusiness Masterclass to Focus on Yogurt Making and Dried Fruit Production

    NRCC Pledges Collaboration with Agrihouse Foundation to Develop Its 10 Acre Bamvim Land into A Model Agricultural Site 

    NRCC Pledges Collaboration with Agrihouse Foundation to Develop Its 10 Acre Bamvim Land into A Model Agricultural Site 

    Fiifi Kwetey to represent fmr President Mahama at the Nebraska-Ghana Trade and Investment forum

    Fiifi Kwetey to represent fmr President Mahama at the Nebraska-Ghana Trade and Investment forum

    Celebrating 13 Years of Connecting Farmers, Input Dealers and Processors to Market- Pre-Harvest the Path Way

    “All Roads Lead to Bamvim as Agrihouse Foundation Gears Up for the 13th Annual Pre-Harvest Agribusiness Exhibition Conference Launch”

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    Dr. zanetor’s Monthly Agribusiness Skills and Jobs for the Youth Roadshow Bounces Back for its Third Edition

    Dr. zanetor’s Monthly Agribusiness Skills and Jobs for the Youth Roadshow Bounces Back for its Third Edition

    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

    Register Now as an Exhibitor or Trainee for the Fifth Livestock, Poultry, and Fisheries Tradeshow

    Register Now as an Exhibitor or Trainee for the Fifth Livestock, Poultry, and Fisheries Tradeshow

    Celebrating 13 Years of Connecting Farmers, Input Dealers and Processors to Market- Pre-Harvest the Path Way

    13th Annual Pre-Harvest Agribusiness Exhibition and Conference Launched

    Modernizing & Improving Market access for women in Agribusiness

    Agriwoman Marketplace Returns Energetically after a short break, expecting to draw about 50 Women in Farming, Marketing and related Agribusiness Value chain Activities for its 13th Edition

    Fifth Monthly Executive Beginner Agribusiness Masterclass to Focus on Yogurt Making and Dried Fruit Production

    Fifth Monthly Executive Beginner Agribusiness Masterclass to Focus on Yogurt Making and Dried Fruit Production

    NRCC Pledges Collaboration with Agrihouse Foundation to Develop Its 10 Acre Bamvim Land into A Model Agricultural Site 

    NRCC Pledges Collaboration with Agrihouse Foundation to Develop Its 10 Acre Bamvim Land into A Model Agricultural Site 

    “Connecting the Unconnected” – 13th Annual Pre-Harvest Agribusiness exhibition and conference Slated for October 24-26

    “Connecting the Unconnected” – 13th Annual Pre-Harvest Agribusiness exhibition and conference Slated for October 24-26

    Agrihouse Foundation and GhaNeb LLC Partner, to Create Agribusiness Trade and Investment Opportunities for Ghanaian Agribusinesses in Nebraska

    Agrihouse Foundation and GhaNeb LLC Partner, to Create Agribusiness Trade and Investment Opportunities for Ghanaian Agribusinesses in Nebraska

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    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

    First Nebraska -Ghana Trade and Investment Program and Husker Harvest Days Ends Successfully

    Brazil declares 180-day animal health emergency amid avian flu cases in wild birds

    Brazil declares 180-day animal health emergency amid avian flu cases in wild birds

    LIVESTOCK-CME live cattle hit record high as meatpackers scramble for supplies

    Dutch Livestock Farmers to Receive Payment for Halting Operations

    African Swine Fever Outbreaks Boost China’s Pork Production to Record High

    African Swine Fever Outbreaks Boost China’s Pork Production to Record High

    Massive Explosion at Texas Dairy Farm Claims Lives of 18,000 Cows

    Massive Explosion at Texas Dairy Farm Claims Lives of 18,000 Cows

    LIVESTOCK-CME live cattle hit record high as meatpackers scramble for supplies

    LIVESTOCK-CME live cattle hit record high as meatpackers scramble for supplies

    Seafarers cautioned to observe all vessel safety precautions – NAFAG

    Seafarers cautioned to observe all vessel safety precautions – NAFAG

    Australia: Crop exports set for record high after heavy rains

    Australia: Crop exports set for record high after heavy rains

    North Korea: Kim Jong Convenes Meeting to Strengthen Country’s Economy & Agri Sector Fearing Food Shortage

    North Korea: Kim Jong Convenes Meeting to Strengthen Country’s Economy & Agri Sector Fearing Food Shortage

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    Agri-Sports Meets Agribusiness: Meet Coach Eric, Guide and Drills Mentor at the 5-day bootcamp

    Agri-Sports Meets Agribusiness: Meet Coach Eric, Guide and Drills Mentor at the 5-day bootcamp

    Meet Participating Schools for the 6th AG-STUD Boot camp 2023

    Meet Participating Schools for the 6th AG-STUD Boot camp 2023

    AG-STUD 2023 to host Motor King Manufacturer, Madam Nora Gao as mentor for the 5-day Bootcamp

    AG-STUD 2023 to host Motor King Manufacturer, Madam Nora Gao as mentor for the 5-day Bootcamp

    UGBS With Funding From A.M.G Limited Commissions Innovation and Incubation Hub

    UGBS With Funding From A.M.G Limited Commissions Innovation and Incubation Hub

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    OCP Africa Pledges Financial Support towards Agric Projects in O’Reilly and Accra Academy Senior High Schools

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    Hon. Dr. Zanetor Agyeman-Rawlings Donates 3 Laptops to Support Agric Students

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    Vice Prez, Dr. Bawumia Pledges Support for Agric Students

    Agribusiness students urged to explore value chain opportunities through digitalization

    Agribusiness students urged to explore value chain opportunities through digitalization

    Change Your Poor Perceptions about Agric Students, 5th AG-STUD Campers Call on Teachers and Mates

    Change Your Poor Perceptions about Agric Students, 5th AG-STUD Campers Call on Teachers and Mates

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      “Connecting the Unconnected” – 13th Annual Pre-Harvest Agribusiness exhibition and conference Slated for October 24-26

      “Connecting the Unconnected” – 13th Annual Pre-Harvest Agribusiness exhibition and conference Slated for October 24-26

      Unscrupulous Persons Diverting Cocoa Fertilizers and Agri-Inputs – COCOBOD

      Unscrupulous Persons Diverting Cocoa Fertilizers and Agri-Inputs – COCOBOD

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      PFJ Seed Suppliers Beg for GH¢207m Debts

      Nat’l Biosafety Authority Approves First GM Crop

      Nat’l Biosafety Authority Approves First GM Crop

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      Assin-Fosu MCE Urges Graduates to Venture into Sustainable Agriculture

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      Consider Neem Oil as Organic Pest Control Agent— Expert advocates

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      8th Monthly ‘Agri-Woman Marketplace’ Set for Friday, November 12

      Digitalization Needs Agric & Agric Needs Appropriate and Innovative Digital Systems— Agrihouse Foundation Director

      Digitalization Needs Agric & Agric Needs Appropriate and Innovative Digital Systems— Agrihouse Foundation Director

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Home National News Agribusiness

Benchmark Policy Reversal will Grow Local Oil Palm Industry— Stakeholders

by AgriWatch
2 years ago
in Agribusiness, National News
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Stakeholders in the oil palm industry says government’s decisions to reverse the 50 percent benchmark value on some imported products is apt, as it will make the industry more competitive against foreign products, thereby, bringing back jobs that were lost as a result of implementation of the policy.

After many months of agitation and pleas by the local oil palm industry, finance minister, Ken Ofori-Atta, announced in the 2022 budget presentation that government has reversed the 50 percent benchmark policy on selected goods, which, information from the Ghana Revenue Authority says, include both refined and crude palm oil products.
This, industry players say, will impact positively on the sector as it will put the industry on equal playing field with importers, considering the existence of the policy has made imported products cheaper than those locally produced, thereby, enticing price sensitive consumers to abandon made in Ghana vegetable oils for foreign ones.

For example, the cost of a 25-liter jerrycan of vegetable oil is produced locally at GH¢260 ex-factory price and sold on the market for GH¢265 inclusive of the duty, levies, VAT and logistics. But with the 50 percent benchmark policy, imported vegetable oils leave the port at GH¢230 and are sold to traders at GH¢255 for onward selling on the market at GH¢260.

Speaking in an interview with the B&FT, President of the Oil Palm Development Association of Ghana (OPDAG), Ing. Samuel Avaala said: “The suspension/cancellation of the implementation of the 50 percent benchmark discount policy on selected commodities imported is good news to the oil palm value chain and the Ghanaian economy for the following reasons: one, the ‘subsidy’ on imported vegetable oil and crude palm oil will be removed and the locally produced palm oil will be competing with the imports on a level playing field.

Two, it sends a good signal to current and potential investors in the value to chain. This will make the objectives of the Tree Crops Development Authority (TCDA) achievable – development and regulation of the value chain, enhance wealth creation, improved livelihoods of people in the ecological/rural areas(smallholders/outgrowers).”

He added that the reversal of the policy will promote import substitution, thereby, saving the economy of the exchange rate pressure it goes through yearly.

Also, in an interview with the B&FT, Managing Director of Wilmar Africa, Kwame Wiafe, said the reversal of the policy will bring the ailing local oil palm industry back to life to support the economy, as its application contributed to loss of thousands of jobs in the sector.

He further stated that reversing the policy will be an incentive to the local industry, as it will improve competitiveness across the value chain.

“Reversing the benchmark values for the oil palm industry will accelerate all the value chain of the of the areas in which Ghana has strong competitive advantage. If you take oil palm where we have capability to cultivate the crop and process it, the benefit for now is that it will accelerate development of the economy.

It will make imports of refined oil expensive and that is an incentive for anybody to enter into oil palm cultivation and the processors to buy whatever is produced in the country,” he said.

He added that, currently, the economy has 20,000 hectares of oil palm under cultivation which is producing 50,000 metric tonnes of palm oil a year. However, locally, a minimum of 200,000 metric tonnes of palm oil production is needed for the country to be self-sufficient. This means that, at least, 80,000 hectares of oil palm plantation needs to be cultivated.

“Already, these 20,000 hectares is employing a minimum of 8,000 staff directly. If that is multiplied by four, it means the plantation alone can create about 32,000 direct jobs,” he said.

Again, he added, the country spends between US$250-300 million on importation of refined vegetable oil, hence, assisting it to produce at full capacity can effectively end importation.

“If we are able to expand the industry to produce to capacity, it will end importation and the currency will even become stronger. The country has a refinery capacity of 500,000 metric tonnes and we need only 200,000. That means we will even have to find market for the industry outside the country and that will rather bring in foreign exchange,” he said.
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