High food import reliance threatens Ghana’s growth prospect – ISSER Report
Ghana remains highly dependent on imports including staple foods like grains, meat and poultry to meet local demand, posing severe risks of external shocks destabilising the economy.
This is according to a report on the 2023 Mid-Year Budget Review put together by University of Ghana’s ISSER
The report shows that food items still dominate Ghana’s monthly import bill in the first half of 2023, led by produce from Asia and Europe cautioning that with high inflation already biting consumers from looming global recessions, unrest and climate pressures, further volatility in international food prices could severely impact Ghana.
“Ghana is very dependent on food imports and highly vulnerable to external shocks.”- the report stressed.
The researchers say self-sufficiency in key staple foods through increased domestic production should be a national priority.
This requires concerted efforts by government and private sector players to bolster output and processing of items like rice, vegetable oils and fish where demand outstrips local supply.
Strengthening intra-regional trade, particularly under the African Continental Free Trade Area is also identified as vital to improving food security and insulating African countries from global headwinds.
Source: Ghana News
