The Chief Executive Officer of the National Food Buffer Stock Company (NAFCO), George Abradu-Otoo, has disclosed that 14 companies have so far been licensed to supply food commodities under the company’s current procurement framework.

The licensed firms are authorised to procure food directly from farming communities and deliver the commodities to NAFCO warehouses across the country.

“So far, we’ve licensed about 14 companies. They have their agents. Once you are licensed, you can go to places like Asutsuare to buy rice, deliver it to our warehouse and provide proof,” Mr Abradu-Otoo said in an interview on Face to Face on Channel One TV on Tuesday, 3 February.

He explained that all commodities supplied by the licensed companies are received and verified at NAFCO warehouses by designated officials, including storekeepers and regional managers, before being accepted into storage.

Mr Abradu-Otoo said pricing is determined by a Price Determination Committee made up of representatives from key stakeholder institutions, including the Ministry of Food and Agriculture, the Peasant Farmers Association, the Rice Millers Association and NAFCO.

According to him, the committee relies on research and market data gathered across the country to agree on prices. Once agreed, the proposed prices are submitted to the Public Procurement Authority (PPA) for review and approval.

“They give the final authority, and based on that, we announce the prices and proceed,” he said.

Mr Abradu-Otoo stressed that the process is designed to ensure transparency, accountability and strict compliance with procurement regulations, adding that NAFCO’s immediate focus is on managing excess food supply.

“Our main concern right now is the glut,” he stated.