COVID-19: Ghana Commodity Exchange reveals produce from farmers has dropped by 45 percent
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COVID-19: Ghana Commodity Exchange reveals produce from farmers has dropped by 45 percent

- The Ghana Commodity Exchange has expressed worry over the volume of commodities traded on its platform

- It revealed that the outbreak of the coronavirus has negatively affected its operations

- Its traditional products such as maize, sorghum, soybean, sesame, and rice are not performing as they used to

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The Ghana Commodity Exchange has raised concerns about a fall in farm produce channeled through its platform.

According to the exchange, the outbreak of the coronavirus has negatively affected its activities, as farmers are not able to produce crops as before.

The exchange, which is a private-public partnership initiative that provides a regulated market linking buyers and sellers of commodities to trade, added that the drop is estimated to be 45%

COVID-19: Ghana Commodity Exchange reveals produce from farmers have dropped by 45 percent

Source: Ministry of Agriculture
Source: UGC

READ ALSO: Women farmers to enjoy GHc2.5 million support from Agric ministry

Per a report by citibusinessnews.com, the farmers, who produce five approved commodities for the exchange, make up about 90% of the exchange’s total trade.

The products traditionally traded on the exchange are maize, sorghum, soybean, sesame, and rice.

Information available shows new products that have been introduced are not doing well either.

In other news, the Minister of Food and Agriculture, Dr Owusu Afriyie Akoto, has hinted at the possibility of making Ghana self-proficient in rice production from 2023.

According to him, the government has invested in a number of farming implements such as harvesters to achieve the objective.

He added that the government has also purchased four different types of solar-powered milling machines from China to improve the production chain of rice.

READ ALSO: Inflation falls for the first time in months; current rate is 11.2%

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Source: Yen News

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