- Buffer Stock Company requested GH¢770 million to tackle food gluts
- GH¢200 million expected in 2026 budget, CEO calls it “a drop in the ocean"
- Initial allocation was GH¢100 million, with another GH¢100 million recently added
The National Food Buffer Stock Company has indicated that it requested at least GH¢770 million to effectively address the ongoing food glut affecting the country.
While the company anticipates receiving an allocation of GH¢200 million in the 2026 budget, its Chief Executive Officer, George Abradu-Otoo, described this amount as “a drop in the ocean.”
Speaking to the media, he highlighted that the current situation has revealed long-standing funding gaps, emphasizing that the Buffer Stock Company has never previously received dedicated funds to purchase excess produce from farmers.
He added that the company is currently sending its contracted agents to farm gates to buy surplus produce for storage in warehouses. Initially, the company received GH¢100 million, and the minister recently informed him that an additional GH¢100 million had been allocated. He noted that the upcoming budget will provide GH¢200 million, which he described as “a drop in the ocean,” but he welcomed it as the first time such funding has been provided.
“For many years, no government allocated funds to the Buffer Stock Company to go into the field and mop up excess produce. This is just the beginning. The amount I requested is much higher than what has been provided, but I take comfort in the fact that it is a modest start,” he said.
He also stated, “We are in the field now, and very soon the noise will subside. Initially, we requested at least GH¢770 million, but so far we have only received GH¢100 million.”
Reports have shown that gluts have occurred in key food crops, leaving farmers struggling to find ready markets for their produce.
