Ghana needs ¢1.5bn for effective food reserves, says Buffer Stock CEO

The Chief Executive Officer of the National Food Buffer Stock Company, George Abradu-Otoo, has said Ghana requires at least ¢1.5 billion to establish a robust national food reserve system capable of supporting farmers and safeguarding the country against food shortages.

Speaking on JoyNews’ PM Express Business Edition, Mr Abradu-Otoo explained that the current funding available to the company is insufficient to undertake large-scale purchases of surplus grains from farmers across the country.

According to him, the company has so far received a total of ¢300 million, comprising earlier allocations and an additional ¢200 million announced by Finance Minister Dr Cassiel Ato Forson.

He noted that although the funding has enabled the company to begin building food reserves, it falls significantly short of what is needed to effectively absorb excess grain production during bumper harvests.

Mr Abradu-Otoo said a minimum investment of ¢1.5 billion would be required to conduct meaningful grain purchases and create a strategic reserve capable of enhancing national food security.

Despite the funding gap, he described the government’s support as an important milestone, noting that it marks the first serious effort to establish a national food reserve system.

He praised the government’s decision to prioritise food storage and reserve management, describing it as a positive step toward protecting the country from future food supply disruptions.

The Buffer Stock CEO observed that Ghana has lagged behind several countries within the West African sub-region in developing strategic food reserves, despite its strong agricultural potential.

He pointed out that neighbouring countries have long maintained food reserve systems to help stabilise markets, support farmers and provide emergency food supplies during crises.

Mr Abradu-Otoo stressed that expanding funding for the programme would allow the company to purchase larger volumes of surplus grains, reduce post-harvest losses and create a stronger buffer against future food shortages and price fluctuations.

His comments come amid growing discussions about food security, agricultural sustainability and the need for stronger interventions to support farmers and strengthen the country’s grain supply chain.