New Prices For Local Crops

The National Food Buffer Stock Company (NAFCO) has announced new farm gate minimum guaranteed prices for maize, paddy rice and soybeans for the 2012 and 2013 crop seasons.

The prices were determined and approved by NAFCO in collaboration with the Ministry of Food and Agriculture and other relevant stakeholders.

Eric Osei-Owusu, Chief Executive Officer (CEO) of NAFCO, who announced the new prices at a press briefing in Accra yesterday, said an 85 kilogrammes bag of paddy rice would sell at GH¢50 instead of the GH¢40.00 for the previous season.

He said a 100 kilogrammes bag of rice would go for GH¢60 instead of the GH¢45.00 previously.

Mr Osei-Owusu reiterated that a 100 kilogrammes bag of soybeans would also be sold at GH¢60.00 as compared to last year’s price of GH¢70.00.

Explaining reasons behind the price reduction in soybeans, he said getting a good yield reduces prices and now that farmers are doing things right, the prices would definitely go down.

“We expect that all farmers should do the right thing to get the expected yield so as not to be affected by the reduction of the price. Those who fail to do the right thing are those going to suffer.”

He therefore urged farmers to take advantage of the directive and not sell their produce below those prices to help ensure food security and sustained incomes for farmers.

The CEO of NAFCO also called on farmers to contact his outfit in terms of any clarification and make good use of the various licensed buying companies (LBCs).

“We want the farmers to abide by the directives to prevent undercutting of food prices from the farm gates, which could make them record losses,” he explained.

He indicated that the minimum guaranteed prices would help farmers to sustain prices.