Ghana stands to be a net exporter of Palm Oil in the coming years if a significant amount of investment is made into the ever-growing agro-economy.
The information available to Round Table on Sustainable Palm Oil RSPO – a not for profit organization aimed at uniting palm oil key stakeholders – shows that even though Ghana has enough oil palm plantation, the country still spends millions of dollars importing palm oil products.
In Africa, it is estimated that smallholder production accounts for an average of approximately 70 per cent of palm oil output and in Ghana alone, there are over 20,000 independent smallholders supplying mills.
Speaking to JoyBusiness at the Oil Palm Conference, Proforest Africa Director Abraham Baffoe stated that now is the time for the government to tap into the economic potential of the oil palm industry.
“Ghana has the potential of being a leading net exporter of oil palm products. It is estimated that smallholder production accounts for an average of approximately 70 per cent of palm oil output and in Ghana alone, there are over 20,000 independent smallholders supplying mills,” he said.
Deputy Minister of Agric for Liberia, Robert Fagans detailed progress being made in Liberia to engage other African economies in expanding the value chain of oil palm production.
According to him, “intense political will is needed to prioritize and expand the oil palm economy. This remains one of the leading drivers of economic strength in Liberia that can be replicated across board”.
West Africa is both the origin and a new frontier for oil palm production. It produces approximately 6 per cent of global palm oil.
Currently, Africa is a net consumer and importer of palm oil but it is projected to become a net exporter soon. Meanwhile, export markets such as Europe have set ambitions to move towards 100 per cent Certified Sustainable Palm Oil (CSPO).
The Roundtable on Sustainable Palm Oil (RSPO) is a not-for-profit, international membership organization that aims to unite palm oil’s key stakeholders and create a sense of shared responsibility among growers, manufacturers, refiners, retailers, investors and NGOs as well as governments and consumers to transform markets to make sustainable palm oil the norm.
Latest Stories
-
Armed female bystander kills man firing at party in West Virginia
13 mins -
Assin North: Court of Appeal dismisses Gyakye Quayson’s Stay of Proceedings
14 mins -
Watch the French Ambassador attempt to speak Twi
18 mins -
Ghana signs $69.88 million renewable energy agreement to enhance electricity access
27 mins -
Joy Business Reporter and Anchor Charles Ayitey wins award
27 mins -
Speaker reiterates need for passage of Affirmative Action Bill
41 mins -
AfDB Governors adopt 10 years strategic plan
45 mins -
‘I will not recognise any naked person in this House again’ – Speaker on MPs dressing
1 hour -
University of Energy and Natural Resources cuts sod for the construction of a sports complex
1 hour -
Livestream: Newsfile discusses Accra flooding and rescuing Achimota forest
2 hours -
Ethiopia unrest: Sudden arrest of 4,000 spells fear in Amhara
2 hours -
How ex-Gambia President Yahya Jammeh’s US mansion was seized
2 hours -
Trump: US should fund safe schools before Ukraine
8 hours -
IOM Ghana launches ‘Waka well, fa kwan pa so’ campaign to inform youth about migration-related decisions
9 hours -
6 NPP executives in Northern Region retained
9 hours