Warehouse Receipt System to increase productivity - Carlos Ahenkora

The Government of Ghana in the quest to give immense growth to the agriculture sector, has launched the Ghana Warehouse Receipt System Project.

The Deputy Minister of Trade and Industry, Carlos Ahenkora, speaking on behalf of the substantive Minister, Alan Kojo Kyeremanteng, submitted that the initiative provides an avenue for stored quality certified commodities to be traded for both internal consumption and export.

And that without adequate warehousing facilities, the right standards and right quality of commodities, there will be a disjoint between agriculture production levels and needs of the industry.

The project is earmarked to increase farmers' incomes, reduce poverty and drive other sectors of the economy. It is an integral part of agricultural trade and financing.

“It would also reduce risk of contract and performance defaults in agricultural trade and also facilitate competitive financing with Agricultural commodities as collateral,” he said.

Speaking in an interview with the media, Mr. Ahenkora mentioned that the Ghana National Buffer Stock Company is directly involved in the project and would work in collaboration with the Ghana Warehouse Receipt System Project.

And that Government has released an amount of GHC 50 Million to the Ghana National Buffer Stock Company to take off immediately after the launch.

He added that the Ghana Commodity Exchange will soon receive their part of the funding to work in the value chain to ensure an effective and efficient Warehouse Receipt System.

The farmers this time round would not be burdened with issues of conveyance of farm produce to the market and the availability of the market itself as the warehouse receipt system takes care of that.