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Invest in agric to cushion Ghana against Russia-Ukraine conflict – Diplomatic Consultant

Farouk Al Wahab 1 International Diplomatic Consultant, Farouk Al Wahab

Wed, 2 Mar 2022 Source: angelonline.com.gh

An International Diplomatic Consultant, Farouk Al Wahab, has stressed the need for Ghana to invest in her agriculture sector to cushion the country against the ripple effects of the instability between Russia and Ukraine.

His comments follow concerns raised after the eruption of the conflict between the two eastern European countries, that the world’s market would see prices of food shoot up, together with oil, since the two factions contribute largely to the world’s economies.

In a story published headlined “Ukraine crisis sparks frenzy in global agriculture trade” by Bloomberg, it was noted that “Prices of staples from wheat to edible oils have rocketed to fresh highs on worries about supply disruptions in the Black Sea region.

“Ukraine is the world’s second-biggest grains shipper, and Russia often tops the ranking for wheat exports. Together, they also account for about 80% of the sunflower oil trade.

“Any disruptions to flows would quickly ripple through to buyers in Asia, Africa, and the Middle East, boosting costs for bread and meat and potentially increasing demand for supplies from the Americas or Europe….”

On Angel FM’s Anopa Bofoↄ show, Mr. Wahab advised that the government should invest in its locally-produced foods and be self-reliant in the crisis period going forward so as not to suffer the effects of the conflict gravely.

He said: “Invest in your plantain, invest in your own chicken, in your own tomato so that when there is a war, or there is a problem or pressure in the world…when the trouble happens you will not board a plane to Italy to borrow money.”

According to him, the turbulence will create a situation where it would be nearly impossible to receive financial assistance from the developed countries because the conflict has also impacted them.

“You will not get any politician, decision maker to talk because Russia is heated,” he said in Twi on the show on Monday, February 28, 2022.

Source: angelonline.com.gh