BUSINESS

Trade Minister outdoors seven-member soya bean export permit committee

Minister responsible for Trade and Industry Alan Kyerematen has inaugurated a seven-member Soya Bean Export Permit Committee.

Minister responsible for Trade and Industry Alan Kyerematen has inaugurated a seven-member Soya Bean Export Permit Committee.

The minister explained that the decision to set up the regulatory task force is in furtherance of Export and Import – Restrictions on Exportation of Soya Bean, Regulation 2020 (L.I 2432) which came into effect in December 2020.

Data suggests that there has been a tremendous increase in the export of soya beans from Ghana resulting in competition amongst exporters while creating shortages of the commodity for use by the livestock and poultry industry coupled with price hikes, making it expensive for local processing.

According to the sector minister, the situation “defeats the purpose for which soya bean production is being subsidized by the Government under the Planting for Food and Jobs Programme”.

The Government of Ghana through the Ministry of Food and Agriculture initiated and commenced the implementation of the Planting for Food and Jobs (PFJ) program in 2017 with the aim of substantially increasing yields and production of various food crops including soya beans. The production of soya bean, which is currently being subsidized by the Government, is to ensure its availability for processing and use as animal feed by the domestic livestock and poultry industry at a cheaper cost to boost local livestock and poultry production.

In addition, under the One District One Factory (1D1F) Initiative, the Ministry of Trade and Industry has supported a number of poultry feed processing companies which has led to a significant increase in local production hence the high demand for soya beans as one of the main raw material inputs

However, in his remark at a brief ceremony held in Accra to inaugurate the committee, Mr. Kyerematen noted that the Minister for Food and Agriculture requested that the Ministry of Trade and Industry initiates a process to regulate the export of soya beans after it realized an unhealthy trend of high exports at the expense of local demands.

“In this regard, the Ministry undertook the process to institute restrictions on the export and import of soya bean. Parliament passed this new legislation Export and Import – Restrictions on Exportation of Soya Bean, Regulation 2020 (L.I 2432) in October 2020 and came into force in December the same year,” he said.

The export legislation required that a committee be set up to implement the regulations in the legislation.

Section 3(2) of the legislation indicates that the Export Permit Committee should consist of one representative from; Ministry of Trade & Industry, not below the rank of a Director, Chairperson, Ministry of Food & Agriculture not below the rank of a Director, Ghana Export Promotion Authority not below the rank of a Director, Customs Division of the Ghana Revenue Authority not below the rank of a Director, Food & Drugs Authority not below the rank of a Director, Poultry Farmers’ Association (nominated by the Minister responsible for Food and Agriculture) and Soya Bean Producers (nominated by the Minister responsible for Food & Agriculture).

Mr. Kyerematen expressed hope that the committee will be diligent in their responsibilities in order to ensure effective regulation of Soya Bean exports.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: freedomradiogh.com

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