- Ghana is poised to earn approximately US$134 million from oil palm export in the next 10 years.
- The projection came from the Ghana Export Promotion Authority (GEPA) and the Ministry of Trade and Industry.
Ghana is poised to earn approximately US$134 million from oil palm export in the next 10 years. The projection came from the Ghana Export Promotion Authority (GEPA) and the Ministry of Trade and Industry. The trend is expected to reverse the current deficit in the product’s export.
Trade Ministry and GEPA through the National Export Development Strategy (NEDS) have been promoting and supporting the efforts of companies in the secondary and tertiary processing of palm oil to boost their share of export markets. The plan will include the establishment of strategic alliances, mergers and acquisition of stakes in companies that are already manufacturing and distributing tertiary processed products in targeted markets.
Ghana’s local production of palm oil is estimated at 520,000 metric tonnes in 2018 leaving a deficit of 50,000 metric tonnes according to the Ministry of Food and Agriculture. In fact, it is reported that the ECOWAS region has an unmet demand of 850,000 metric tonnes, which is a potential market for Ghana to capitalize on. According to GEPA, the agroecology in Ghana is very conducive for oil palm production with the availability of local and regional expertise. However, the industry could not grow
due to the lack of volume production and diversification into value-added products as is done in countries like Indonesia and Malaysia.
