Vice President John Dramani Mahama on Monday announced that the government in collaboration with the World Bank and the African Development Bank, have put in measures to revive the cotton industry in Ghana.
He said the government would soon hold a stakeholder’s meeting to determine the premium guarantee price of lint cotton to assure farmers of good price for their produce.
Vice President Mahama announced this when he inaugurated the Ghana Cotton Revival Project at Nanton in the Savelugu/Nanton District.
Under the revival programme cotton production, which took a nose dive some years back, is expected to engage over 100,000 farmers to move production to 30,000 metric tons this year.
Vice President Mahama mentioned the provision of adequate funding and a zoning system as some of the measures adopted to increase cotton production.
Under the reform programme, cotton producing areas of the three northern regions had been zone into three; North East, North West and North Central.
He called on all District Directors of Food and Agriculture and the District Chief Executives to cooperate with the cotton companies operating in their zones to ensure effective and massive production of the crop.
The Vice President said under the reforms, over 100,000 farmers would be offered direct employment and called on the farmers to liaise with chiefs and local owners to achieve their targets.
Mr. Fred Quaye Nortey, Board Chairman of Armajaro Companies, said Armajaro Cotton was in charge of production for the North Central Zone and was investing 8 million dollars into cotton production and to reach 30 million in three years’ time.
He said the company, which is one of the leading companies in the cocoa buying and supply sector, assisted some farming communities with $3 million last year, adding that the company would do more business with the rural banks especially the Agricultural Development Bank (ADB).
Mr. Kwasi Ahwoi, the Minister of Food and Agriculture, commended Ghanaian farmers for their efforts in boosting food production that had helped to stabilize prices of food and also had a positive impact in reducing the rate of inflation.
He assured farmers of the commitment of government in revamping the cotton industry.