Accra: Ghana needs at least GHS1.5 billion to develop a substantial national food reserve system, according to the Chief Executive Officer of the National Food Buffer Stock Company, George Abradu-Otoo. This figure significantly exceeds the GHS300 million currently allocated for this purpose.

According to Ghana Web, Abradu-Otoo's remarks come amid growing concerns over food security, post-harvest losses, and the necessity for government interventions to stabilize grain markets and support farmers during bumper harvests. In an interview on JoyNews, Abradu-Otoo highlighted that the current funding for purchasing surplus grains from farmers is inadequate. Last year, the Minister of Finance, Ato Forson, announced an additional GHS200 million, bringing the total to GHS300 million, which Abradu-Otoo noted is insufficient for the scale of operations required.

Further, he mentioned that while the finance ministry's funding has enabled the company to start building reserves, the impact has been limited. Abradu-Otoo emphasized that a more meaningful mopping up of excess grains would require no less than GHS1.5 billion, illustrating the gap between current funding and the needed resources.

The government's decision to prioritize the establishment of food reserves marks a significant policy shift, as Abradu-Otoo pointed out. He noted that Ghana has been lagging behind its neighbors in creating strategic food reserves, even though it is a major agricultural producer. He expressed surprise that Ghana, unlike other West African countries such as Mali, does not have a national food reserve system in place.