The Ministry of Food and Agriculture says it needs at least GH₵500 million to purchase excess rice stock from farmers in Ghana’s five northern regions, warning that failure to act could discourage production and threaten food security.

Speaking on JoyNews' Newsfile on Saturday, November 8, the Minister for Food and Agriculture, Eric Opoku, explained that the government had initially allocated GH₵100 million as part of the 2025 budget to stabilize the rice market. However, the fund was quickly exhausted within 10–12 days.

“This was the first time the National Food Buffer Stock has been given the capacity to go into the market and mop up the excess. But within days, GH₵100 million was exhausted,” he said.

The Minister revealed that technical assessments indicate that GH₵500 million is required to fully address the surplus, noting that the government has already secured an additional GH₵100 million facility while engaging private partners and international donors for further support.

“One of the dangers is that if we don’t clear the glut, our farmers will be discouraged, and going forward, they wouldn’t have the interest to invest again in agriculture,” he warned.

“Governments have not failed the people of Ghana. The most important thing is that we have succeeded in our targeted investment to ensure production meets market needs. What is left is how we can contain the excess,” he emphasised.

Read also: Local rice glut: Gov’t has not failed Ghanaians – Agric Minister

He also highlighted ongoing efforts to direct local produce to institutional consumers such as schools, prisons, and the police, following presidential directives.

“The Ministry of Education has been directed by the President to ensure that all food served to students and inmates is sourced locally. This is part of the interventions to contain the situation and support farmers,” he said.

He addressed concerns about the pricing of rice purchased from farmers, noting that prices are set through a committee comprising government officials and representatives of farmers’ associations.

“It is not an imposition from the Ministry of Food and Agriculture. It is a collective decision taken by all stakeholders,” he said.

The Minister said the government will announce concrete measures on Monday, November 10, to stabilize the rice market and prevent further losses to farmers, emphasizing that all decisions will be guided by data collected after the harvest.