Budget 2023: Big boost for agric; Govt to ramp up local production of fertilizer

The agriculture sector has received a huge boost following the announcement of plans to ramp up the local production of fertilizer.

Presenting the 2023 Budget, the Minister of Finance, Ken Ofori Atta, said the Ministry of Food and Agriculture was intensifying efforts to promote the local production and use of organic fertilizers in the country.

He said the government was also facilitating the establishment and the expansion of local organic fertilizer production plants with support from the EXIM Bank

He noted that in order to improve farmers access to fertilizer, the government had also increased the quota for organic fertilizer suppliers to cover the shortfall in supply of inorganic fertilizers under its subsidy programme.

“Mr. Speaker, the recent global crisis has severely disrupted inorganic fertilizer supply chains. This has resulted in sharp increases in prices making it difficult for farmers to access the commodity and thus threatening food security,” he stated.
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He said these measures were therefore meant to help the farmers in these difficult times.