27.2 C
Accra
Thursday, June 1, 2023

Date:

Government is urged to lift restrictions on soybean exports

Related stories

Tesla boss, Elon Musk in China for car business expansion deal

Tesla CEO Elon Musk has arrived in China for...

Nvidia temporarily valued at $1 trillion as a result of AI boom

On Tuesday, the elite club of US firms worth...

Phase two of nuclear power infrastructure devt in Ghana completed – Deputy Energy Minister

Deputy Energy Minister, Andrew Egyapa Mercer, has revealed that Ghana...

$100m more needed for steel import to proceed National Cathedral project – Boss

Executive Director of the National Cathedral of Ghana, Dr....

We are establishing a vibrant tourism industry – President

President Nana Addo Dankwa Akufo-Addo has stated that the...

A dollar sells GHS12.00 at forex, GHS10.97 on BoG interbank

The Bank of Ghana's interbank forex rates for today,...

Ghana Trade Fair Centre to house a huge data center worth $300m

As part of the Ghana Trade Fair Redevelopment Project,...

Minority orders gov’t to Transfer JOHL shares to GNPC without delay

Upon the resumption of Parliament, the Minority declared its...

Put in more interventions to restore confidence in financial sector – Economist to BoG

Banking consultant Dr. Richmond Atuahene has criticized the Bank...

Time to boost interest in local poultry business- CADA Veep

An appeal has been made by the newly-appointed Vice...
- Advertisement -

The Ghana Soyabeans Farmers and Aggregators Association (GHASFAA) has requested that the government lift the restrictions on the import and export of soybeans in order to protect the livelihoods of the nation’s farmers and aggregators.

The regulation, passed in 2020 by the government, was to provide licensing for the exportation of soybeans in commercial quantities to ensure availability of soyabeans for domestic use to meet local processing requirement for animals production.

- Advertisement -

Mr. Abdul-Hakeem Issah, Director in charge of Administration, GHASFAA, who addressed a press conference on behalf of GHASFAA in Tamale, said the implementation of the regulation had become a thorn in the flesh of soybean farmers as government agencies were using the regulation to obstruct the soybeans trade in the country.

Mr Issah said the government needed to repeal the restrictions since the local processing companies were not having ready cash to pay for the soybeans, which was adversely affecting farmers and aggregators in the sector.

- Advertisement -

He wondered why the regulation did not target maize production, which was a staple food for the poultry industry, but rather soybeans.

He said livestock, fish and poultry farmers do not buy soybeans from them as intended by the government, adding that, they only bought it from the local processing companies, which often deal with imported soybeans.

- Advertisement -

Mr Issah called on government to allow individuals with the capacity to export soybeans to do so without frustrating them, to enable the industry to attract the needed investments, as investors were currently moving away from investing in soybeans production, because of the restrictions.

He warned that if the government failed to heed their call by May 15, 2023, they would cut down the production of soybeans in the 2023/2024 farming season.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories