President John Dramani Mahama says the country is positioning itself strategically to meet the increasing national demand for palm oil.
Currently, the president said the nation produced 300,000 metric tons of palm oil but national demand was about 450,000 metric tons.
President Mahama said the about 150,000 metric ton shortfall required the need for strategic planning and increased productivity in order to capitalize on the projected growth of the global palm oil market, expected to hit $65 billion by 2027.
The President said this when he launched the government’s flagship initiative, the Feed Ghana Programme, in Techiman in the Bono East Region on Saturday.
It is the government intervention strategy that will enhance food production, encourage the adoption of modern farming techniques, improve infrastructure, and establish agro-industrial zones throughout Ghana.
President Mahama announced the implementation of palm oil industry policy that would provide incentives in the palm oil value chain, from cultivation to export.
The Tree Crop Development Authority would also develop six key economic trees of oil palm, cashew, mango, coconut, shea, and rubber with emphasis on oil palm.
President Mahama said his government vision was to modernise and expand the agricultural sector to generate employment opportunities, mitigate food inflation, and enhance food security.
The Feed Ghana Programme remained a comprehensive framework under which all agricultural initiatives and projects would be carried out.
