Accra: The Chamber of Agribusiness Ghana (CAG) has issued an urgent appeal to stakeholders to implement a reduction in commodity prices, aiming to alleviate the financial strain on consumers and safeguard national food security.
According to Ghana News Agency, CAG has expressed concern that the rising cost of food is negatively affecting public health, reducing purchasing power, and posing a threat to Ghana's economic stability. Mr. Anthony Morrison, Chief Executive Officer of CAG, emphasized the detrimental effects of soaring food prices, which make nutritious diets inaccessible for millions and jeopardize the country's food security goals.
The Chamber acknowledged the financial pressures on businesses but emphasized the necessity of collective responsibility to address the issue. It highlighted that high food prices force low-income households to depend on calorie-dense, nutrient-poor staples, increasing malnutrition and susceptibility to diet-related diseases.
CAG also warned that inflated prices dampen consumer demand, weaken non-food sectors, and hinder economic recovery. The statement pointed out that excessive spending on basic food items reduces demand for other goods and services, adversely affecting the entire economy.
To mitigate the crisis, CAG has called for government intervention to address high agro-input costs, inadequate road networks, and insufficient storage infrastructure. Proposed measures include targeted subsidies for fertilisers and seeds, strategic reserves, and investment in climate-smart storage facilities through public-private partnerships.
The Chamber also recommended improving logistics by rehabilitating feeder roads and enforcing axle load limits to cut transport costs. Additionally, it advocated for the expansion of programmes like the Ghana Incentive-Based Risk Sharing System for Agricultural Lending (GIRSAL) and the development of tailored funding for SMEs in the agricultural value chain.
CAG urged the enforcement of regulations to lower lending rates for agribusiness and the streamlining of loan application processes. It also called for investment in comprehensive national market information systems accessible via mobile platforms to aid farmers, traders, and transporters in price discovery and planning.
The Chamber concluded with a call for bold leadership and coordinated action, emphasizing that the challenges are surmountable with political will, innovative policy, and targeted investment.
