Artisanal Oil Palm producers call for reversal of 50% benchmark value reduction policy

• The Artisanal Palm Oil Millers and Outgrowers want a reversal of the 50% benchmark value reduction policy

• The group says the policy is rendering its members uncompetitive on the market

• They believe the policy only enriches a select few of traders

The Artisanal Palm Oil Millers and Outgrowers are calling for a reversal of the benchmark value reduction policy.

The benchmark values are references that the customs use in determining standards on imports meant for clearance at the country’s ports.

Despite initial calls made by the Ghana Union of Traders Association urging for the benchmark policy to be maintained, oil palm producers in the country have stressed the policy is rather rendering locally produced crude palm oil uncompetitive on the market.

Paul Kwabena Amaning, president of the Artisanal Palm Oil Millers and Outgrowers Association believes the policy is only beneficial to a select few of traders which affects the entire value chain.

“There over 1.8 million people working in the Palm Oil value chain in Ghana, and all these people are going through tough times because of the policy. So, we are not happy that GUTA appears to be threatening government not to cancel the policy. This policy only enriches a few who are involved in trades,” Kwabena Amaning told Citi Business News.

In 2019, government in a bid to curb the incidents of smuggling and boost revenue generation at the country’s ports slashed the benchmark values for all imports by 50 percent with the exception of vehicle duties which was later reduced by 30 percent.