Agriculture

Oil Palm value chain actors hail government

The Oil Palm Development Association of Ghana (OPDAG) Executives and the entire value chain actors of the oil palm sector, have hailed Government’s exemption of palm oil from 50 per cent benchmark value for customs duty assessment.

A statement signed by Mr Selorm Quarme, Executive Secretary, OPDAG, which was made available to the Ghana News Agency, said the Association together with the hundreds of thousands of their members and the entire value chain actors of the oil palm sector are excited with Government’s decision to exempt the sector’s commodities from the 50 per cent reduction in the benchmark value of imports as announced on Monday 11th May.

According to the Executive Secretary, the move would guarantee the continuous employment and sustained livelihoods of a large number of Ghanaian farmers and value chain actors most of whom were smallholders.

He said it would also provide a level playing field to ensure that local producers remain competitive in the in the near term while encouraging and attracting the needed investment for the development of the oil palm sector, which was waiting to be exploited for the development of the tree crop sector.

“The benchmark value introduced in 2019, gave importers of palm oil in the form of vegetable cooking oils an unfair pricing advantage over local producers,” Mr Quarme said.

“The price advantage to importers pushed a lot of farmers, processors and refiners and other businesses in the oil palm value chain out of business.

“We are, however, excited that a decision has been taken to exempt palm oil and the related cooking oils from this policy, which to us will not only inure to the benefit of all stakeholders especially all those within the value chain but will also make the sector attractive for investment, and for the development of the tree crops sector as envisaged in the Tree Crops Development Authority Act, 2019 Act 1010”.

Mr Quarme said prior to the introduction of the benchmark value, a 25 liter (Yellow Gallon) of oil produced locally was selling at GH¢145 against GH¢150 for the imported product.

He said, however, when the policy kicked in, whereas the locally produced vegetable oil is still selling at GH¢145, the prices of the imported products would go higher than the local ones.

He said this situation adversely affected the local industry as local producers were faced with the concomitant effects of unfair competition – a situation that was starting to result in job losses and loss of livelihoods of thousands of smallholder farmers in the value chain, not to mention the effect on investment and expansion of the sector.

Mr Quarme said the Association since the introduction of the policy, had been advocating for an exemption for the oil palm industry and that it was heartwarming to note that the Government had listened to this plea and taken the step in the right direction to rescue the industry.

“It is, therefore, a welcoming and positive development for the local oil palm industry and we urge all members to continue to adopt best practices to ensure the sustainability of the industry.” He said.

“We thank the President and the government as we look forward to the next big thing – the operationalization of the Tree Crops Development Authority.”

 

Source: GNA

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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