3Business<\/strong> Agribusiness Dialogue on Wednesday October 26, he explained the fundamentals in the agric sector of the economy is that Ghanaians consume more than they produce locally.<\/p>\nThis means a lot more foreign exchange earnings is required to bring in additional food supplies to feed the people.<\/p>\n
When the exchange rate is affected, he said, it means food supply is heavily affected thereby creating difficulties for Ghanaians.<\/p>\n
\u201cThis event could not be happening at a better time\u00a0 and I hope our panelist will elevate\u00a0 the conversation\u00a0 to the level of state\u00a0 and to the level of global coordination.<\/p>\n
Agriculture is probably one\u00a0 gifted industry to Ghana, to Africa , not all of Africa, Ghana, . When the fundamentals are weak\u00a0 the exchange rate will expose you.<\/p>\n
On this one in agriculture the fundamentals are that everything we consume in this country, we consume more of pour agricultural product in this country than we produce. Therefore for the surplus that\u00a0 you consume you have to bring from outside.<\/p>\n
What do you need? You need foreign exchange\u00a0 and when the foreign exchange is not there\u00a0 the fundamental will expose you. So I think today\u2019s Ghana and the world economic has exposed us in terms\u00a0 of the way we are organized in our agricultural sector.\u201d<\/p>\n
3Business Dialogue on Agribusiness, is a thought leadership programme organized by the
BUSINESS DESK of Media General, to create the right platform for a progressive conversation by the best brains, on how Ghana can reverse the rising cost of food as well as take advantage of the global food crisis and convert it into an opportunity, to feed itself and feed the world.<\/p>\n
Surging food prices is hitting Africa\u2019s economies the hardest and, in some countries, triggered social unrest.<\/p>\n
A report by Oxford Economics Africa, corroborated by many other reports, says the war in
Ukraine, bans on food exports such as palm oil, supply-chain glitches and a drought curbing the US wheat crop, have sent food prices skyrocketing. This is aptly reflected in Ghana\u2019s high food inflation of 34.4% for August, 2022.<\/p>\n
On the global stage, the World Bank reports that record high food prices have triggered a
global crisis that will drive millions more into extreme poverty, magnifying hunger and
malnutrition, while threatening to erase hard-won gains in development.<\/p>\n
Meanwhile the World population is expected to grow by over a third, or 2.3 billion people,
between 2009 and 2050. Demand for cereals, for both food and animal feed uses, is projected to reach some 3 billion tonnes by 2050, up from August \u2019s nearly 2.1 billion tonnes.<\/p>\n
The projections show that feeding a world population of 9.1 billion people in 2050 would
require raising overall food production by some 70 percent between 2005\/07 and 2050.
Production in the developing countries would need to almost double to achieve this target.<\/p>\n
By Laud Nartey|3news.com|Ghana<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Former Managing Director of Stanbic Bank, Alhassan Andani has said Agriculture is the a gifted industry to Ghana and to Africa as a whole. Speaking at the 3Business Agribusiness Dialogue on Wednesday October 26, he explained the fundamentals in the agric sector of the economy is that Ghanaians consume more than they produce locally. This […]<\/p>\n","protected":false},"author":1,"featured_media":1234904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[974,26608,1418,7527,1964,179,3168],"class_list":["post-1234902","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-agric","tag-andani","tag-exchange","tag-expose","tag-fundamentals","tag-rate","tag-weak"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1234902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1234902"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1234902\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1234902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1234902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1234902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"\"](\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/10\/Alhassan-Andani-696x433.png\" "\\"Alhassan")