Gov’t to reduce export of soya beans to cut down $350 million cost of feeding poultry birds
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Gov’t to reduce export of soya beans to cut down $350 million cost of feeding poultry birds

- The Ministry of Food and Agriculture (MoFA) is in the process of limiting the exportation of soya beans

- It explained that it is holding discussions with two other ministries to place restrictions on the export of the crop

- Ghana reportedly spends $350 million every year to import poultry

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The Ministry of Food and Agriculture (MoFA) has initiated plans to halt the export of soya beans.

The move is in line with attempts to ensure that there are enough soya beans to feed for poultry birds in Ghana.

YEN.com.gh understands that MoFA is currently seeking legal backing to halt the export of the crop.

READ ALSO: COCOBOD predicts Ghana could lose $1 bn dollars as global price of cocoa fall

It is, therefore, teaming up with the Ministry of Justice and the Attorney General’s Office, as well as the Ministry of Trade and Industry for the Legislative Instrument (LI) to that effect.

Graphic.com.gh reports that MoFA is also working with the Ministry of Trade and Industry to ensure that those who export non-traditional products such as soya beans would return the proceeds to Ghana.

The agric minister, Dr. Owusu Afriyie Akoto, noted that the sustained production of soya beans was crucial to revamp the poultry industry in the country.

He explained that with the LI, MoFA hopes to get the Ministry of Trade and Industry to ensure that anyone who wished to export soya beans must first get a clearance from the Minister of Food and Agriculture.

Dr. Akoto went on to say that the $350 million spent annually importing poultry was “totally unnecessary and unwarranted”.

In other news, YEN.com.gh has learned that Ghanaian cashew farmers have expressed concerns about the fall in the price of the product.

Information available shows that it has reduced from an initial GHC8 per kilo to about GHC2 or GHC3 for the same quantity.

The local farmers revealed that it is because they are no longer able to export to Asia due to the outbreak of the coronavirus.

READ ALSO: Bank of Ghana report shows the country is experiencing an economic slowdown

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Source: Yen.com.gh

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