The National Food Buffer Stock Company (NAFCO) has announced that the Ministry of Food and Agriculture (MoFA) is preparing to seek Cabinet approval for an additional GH₵100 million in funding to support the large-scale purchase of surplus food commodities, including maize and rice.
The move is part of efforts to meet Ghana’s annual staple food consumption threshold of 6.8 million metric tonnes and to build up the 10 percent annual food reserve requirement under the national food reserve programme.
According to NAFCO, the fresh request follows an initial Cabinet release of GH₵100 million, which was used to procure 60,000 bags of rice, 120,000 bags of maize, and 10,000 bags of gari for strategic reserves.
Speaking at a media briefing on Wednesday, October 30, Deputy Chief Executive Officer of NAFCO, Osmond Amuah, said the additional funding is crucial to prevent post-harvest losses and enhance food security.
He further disclosed that NAFCO’s Producer Price Determination Committee has set a floor price of GH₵5 per kilogram of paddy rice to guide purchases and ensure fair compensation for farmers.
This intervention, he explained, is aimed at clearing the over 200,000 metric tonnes of unsold rice currently stored in warehouses across northern Ghana.
NAFCO’s initiative aligns with government’s broader strategy to strengthen Ghana’s food security framework and reduce dependence on imports by promoting local production and sustainable storage systems.
Peasant Farmers cry for help as 200,000 metric tons of local rice remain unsold