Gov’t announces minimum Producer prices for oil palm fruits, rubber for January 2023

Government has officially announced the Minimum Producer Prices for Oil Palm Fruits and Rubber for the month of January 2023.

The Minimum Producer Price for Oil Palm Fresh Fruits Bunch (FFB) is GHȻ1,252. 92 per tonnes whilst that of Raw Rubber Cup-lumps, is GHȻ 4.9167 per kilogram.

“Every month, a new price will come and it is not going to be below what we have started with; there is an Act of Parliament establishing everything that we are doing in determining the price” Yaw Frimpong Addo, Deputy Minister for Agric has said.

He made the announcement at a meeting in Sekondi in the Western Region, which was attended by District Chief Executives, Members of the Board of Tree Crops Development Authority (TCDA), Oil Palm and Rubber Actors, (Farmers, Aggregators, Processors, Exporters) among others.

He explained that the pricing regime will motivate farmers to increase their acreage and encourage the young one’s to venture into agriculture.

Again, he said the pricing mechanism also provides room for farmers to obtain a premium for the quality of FFB produced as well as that of rubber.

“The world is growing and the land for agriculture is limited; world population has gotten to over seven billion and the demand for rubber and oil pam is very high, there is the need to encourage more people into agriculture” Mr. Addo added.

According to the Deputy Minister of Agric, Tree Crops Development Authority (TCDA) has been established by an Act of Parliament to regulate and develop in a sustainable environment; the production, processing, pricing, and marketing of six tree crops namely: Oil Palm, Rubber, Shea, Coconut, Cashew, and Mango.

The Authority, he said is therefore leading the agenda for the diversification of Ghana’s agriculture by putting in place policies and programmmes to guide research, production, processing, pricing, and marketing of the six tree crops with enormous agricultural, economic, export and forex earning potential for Ghana.

He pointed out that the Minimum Producer Prices were developed by the TCDA together with various value chain Actors of Oil Palm, and the Rubber industry in Ghana, following best and sustainable international practices.

Acting Chief Executive Officer of Tree Crops Development Authourity, William Agyepong Quaitoo also took the participants through the intricacies in determining the prices of the oil palm and the rubber.

Kwabena Okyere Darko-Mensah, Western Regional Minister noted that farming has a lot of benefits and urged the farmers to take advantage of the Minimum Producer Pricing to expand their farming business and employ more people.