50% reduction in benchmark values crippling agric sector

The Ghana Rice Millers Association of Ghana says the 50% reduction in benchmark values did not benefit the consuming public and is therefore calling for it to be scrapped.

According to the group, the rebate government introduced only enriched importers and did not reflect a reduction in the price of goods on the market.

Yaw Adu Poku is the Convener of Rice Millers Association of Ghana, and he stressed that the strategy does not make local rice producers competitive and is counterproductive for the nation.

“Right from the beginning we were against it, and we tried to make our voice heard through the Association of Ghana Industries (AGI). If we are talking about nation-building then that is not the way to go and to be honest, it benefited only a few.”

Following rumours of a likely reversal of the relief, the Ghana Union of Traders Association has mounted a spirited defence of the policy, arguing that it presently is the only lifeline for traders amidst the pandemic.

On the other hand, Artisanal Palm Oil Millers and Outgrowers say the policy is deepening their woes amidst the Covid-19 pandemic.

They lament that the policy is rendering locally produced crude palm oil uncompetitive on the market, causing many palm oil producers to lose their jobs in these hard times.

The government introduced the policy in 2019 to discourage smuggling and increase revenue at the ports.

Source: Citi Business News