Interest rates

Lower interest rates for farmers

Small farmers contribute 70% to the agricultural sector

Small farmers contribute 70% to the agricultural sector

60% of farmers are poor, APRA

Locally Made Products Are Too Expensive, National Best Farmer

National farmer 2020, Solomon Kojo Kusi, called on banks to offer subsidies and loans at lower rates to farmers to increase the productivity of the sector.

His concern was related to the inability of small farmers to access credit facilities and other aids to use on their various farms.

“We want local farmers to have access to such subsidies. If you serve the big farmers sometimes, we can take care of ourselves, but the majority, if you serve the small farmers, they’re about 70 or 80 percent. cover small farmers. Reducing interest rates, opening up subsidies, that will be the solution, ”he explained.

Research by the Agricultural Policy Research in Africa (APRA) has shown that Ghana has 1.5 million cocoa farmers, 60% of whom are poor.

According to Kusi, this can be solved by making the subsidies accessible to small farmers.

He explained that locally produced food products should not be as expensive as they are now, adding that the drop in prices of imported products can be attributed to the high levels of imports into the country.

“In my opinion, the food we sell to consumers is still high. If the Chinese, the Indians, can make rice and come and sell it for 200 cedis and we make rice here in Ghana and sell it for 220 cedis or 250 cedis, does that sound fair to you? We have to sell it at least 120 or 130 so that we can feel the impact. So the challenge is the money and the money we are talking about is not a loan, we are talking about grants so that everyone is free.

He was speaking in an interview ahead of this year’s Farmers Day celebrations in Cape Coast.

The celebration was under the theme; “Planting for Food and Jobs – Strengthening the Food System in Ghana”.