Wednesday, 24 September

Gov’t tasks Buffer Stock Company to buy surplus grains from farmers

Business
NAFCO logo

The Ministry of Food and Agriculture (MoFA) has announced that the National Food Buffer Stock Company (NAFCO) will, for the first time since its establishment, be resourced to purchase surplus grains from farmers across the country.

According to the Ministry, projections for the 2025 farming season point to a bumper grain harvest, in addition to unsold carry-over stocks from 2024.

Without intervention, the development could trigger a glut and significant post-harvest losses.

To avert this, the government has provided substantial funding to NAFCO to enable it to mop up the excess produce for storage.

Ministry says the move is designed not only to guarantee fair value for farmers but also to secure national food reserves to cushion the country against future shortages and emergencies.

“The Ministry urges all farmers to remain calm and confident, as NAFCO will actively be in the market to purchase their grains and mitigate any adverse effects of excess supply,” MoFA said in a statement issued by its Public Relations Unit.

 

The Ministry further assured the public that it is working with relevant agencies and stakeholders to ensure that every grain harvested by Ghanaian farmers finds a sustainable and profitable market.

Source: Classfmonline.com/cecil Mensah