Gov’t allocates GHc100m to Buffer Stock Company for surplus crop purchases

The government has released GH¢100 million to the National Food Buffer Stock Company (NAFCO) to purchase surplus food crops from farmers ahead of an expected bumper harvest this year.

Minister of Food and Agriculture, Eric Opoku, disclosed the intervention in Accra during a donation ceremony, describing it as a major step to curb post-harvest losses and stabilise market prices.

“For the first time since NAFCO’s establishment, government has provided such significant resources for surplus food purchases. This move will reduce wastage, guarantee national food reserves, and cushion the country against future shortages,” the Minister said.

Under the arrangement, NAFCO will buy crops such as maize and rice directly from farmers, store them in prepared warehouses, and release them when needed. A Price Determination Committee has already submitted proposals, and after consultations with the Association of Ghana Industries (AGI), official prices will soon be announced.

Opoku assured farmers that “every grain will be bought,” adding that if the GH¢100 million allocation is insufficient, the President has pledged additional resources.

The Minister attributed the anticipated bumper harvest to deliberate government policies, including the distribution of improved seeds and fertilisers to farmers, support for peasant farmer associations, and the promotion of commodity-based cooperatives.

“More than 65,000 cooperatives have been registered nationwide, making it easier to provide farmers with education, inputs, and technical support. What we are witnessing today is the fruit of these targeted investments,” he said.

He also commended the World Food Programme (WFP) for assisting the Ministry in rehabilitating warehouses across the country to enhance storage capacity.

Beyond market stabilisation, Opoku emphasised the government’s commitment to food quality and safety, warning against the dangers of illegal mining.

“Chemicals from galamsey are contaminating food crops in some areas and posing health risks. If the food we consume is polluted, we are shortening our lives,” he cautioned.

The Minister further highlighted the importance of irrigation in sustaining the Feed Ghana Programme. Out of the country’s 1.9 million hectares of irrigable land, only 229,000 hectares are currently in use, with many old irrigation projects running far below capacity.

Rehabilitation works, he said, are underway at several sites, including the Shama irrigation project, which is operating at only 20 percent efficiency.