A blueprint for harnessing the full potential of the non-traditional export sector (NTE) has been established in the new National Export Development Strategy (NEDS) by the Ghana Export Promotion Authority (GEPA). Data from the Authority show that the country consumes about 370,000 tons of sugar annually although domestic production averages about 250,000 tons. It also stated the annual importation of sugar into the country cost an average of US$2 million.
Ghana is looking forward to boosting the production of sugar to meet local demand. This forms part of the country’s aggressive move to ensure a reduction in the importation of sugar.
The government’s bid to support manufacturers to produce more and attract foreign direct investments (FDIs) into the sugar business is hinged on an increase in demand for sugar by local consumers. According to the Ghana Export Promotion Authority (GEPA), the majority of those demands has been met with imports, a development it said was inimical to national development.
According to the NEDS, projected revenues from the export of sugar by 2029 is US$1,197 billion from about US$20 million in 2020.
Interventions relating to raising domestic production of sugar include; to refine and re-launch of the sugar policy as a tool to create and sustain domestic markets for locally manufactured sugar; timely development of sugarcane plantations and out-grower schemes to ensure adequate availability of raw materials, and promote Ghanaian manufactured sugar in the sub-regional and other African markets.
Source: Ghana Web