- Ghana's number one cash crop is cocoa
- However, the government is putting measures in place to convert some three crops into cash crops.
- It is expected that these crops will fetch a total $12 billion in export revenue every year.
Ghana’s Minister for Agriculture Dr. Owusu Afriyie Akoto has said that the government is expecting to convert some six tree crops into cash crops that should give a total of $12 billion in export revenue yearly.
The six crops include rubber, coffee, cashew, coconut, and oil palm.
Speaking at a ceremony organised by the Finance Ministry to unveil a committee to assess the factors that feed into the depreciation of the cedi, Dr Afriyie said this forms part of the government’s Planting for Export and Rural Development (PERD) initiative.
He explained that this is aimed at generating more foreign exchange for the socio-economic development of Ghana adding that it will also help address the perennial currency depreciation.
Dr Akoto said that the other crops to be converted to cash crops just like cocoa which generates about US$2 billion forex per annum have the potential to generate revenue for the country.
The Minister said that the relevant stakeholders including farmers and research institutions have been included in the strategy to make this a reality.
He added that farmers will be provided with seedlings as well as the requisite assistance to ensure that the target is achieved within 6-7 years.