Cabinet approves funds for Ghana Buffer Stock amid food glut concerns

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Majority Leader Mahama Ayariga says Cabinet has approved substantial funding for the National Food Buffer Stock Company (NAFCO) to purchase surplus farm produce from Ghanaian farmers.

This intervention comes in response to mounting pressure from lawmakers and agricultural stakeholders, marking a decisive move to address growing concerns over a potential food glut in the country.

Mr. Ayariga announced in response to a call by Nalerigu-Gambaga MP, Nureedin Mohammed, on the floor of Parliament. Mr. Mohammed had urged the Minister of Food and Agriculture to brief Parliament next week on measures being taken to avert a looming glut in the food supply chain.

He highlighted the risk of post-harvest losses and the economic strain on farmers due to unsold produce, particularly maize and rice.

The Majority Leader, however, said Cabinet had taken proactive steps to ensure that farmers did not suffer due to the abundance of their harvest.

“Funds have been approved to empower the Ghana Buffer Stock Company to purchase excess grains and other farm produce, ensuring that farmers are supported and food reserves are strengthened,” he added

The funds will enable the Buffer Stock Company to absorb surplus maize and rice from the market, including carry-over stocks from the previous season.

The move is expected to mitigate post-harvest losses, stabilise the agricultural economy, and ensure stable food inflation.

The intervention is also expected to reduce post-harvest losses by providing immediate market access for farmers, enhance national food security by boosting strategic reserves, and stabilise prices in the face of oversupply.

Farmers across the country have welcomed the move, expressing relief that their efforts will not go to waste.

Agricultural advocacy groups have also praised the government’s responsiveness, noting that such measures are critical to sustaining the momentum of Ghana’s agricultural transformation.

As Parliament awaits a formal briefing from the Minister of Food and Agriculture, Mr. Ayariga assured members that the government remains committed to protecting the interests of farmers and ensuring that the bumper harvest translates into national prosperity.