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Business News of Tuesday, 5 May 2020

Source: classfmonline.com

Buffer stock good but we need something higher - Amoako Tuffuor

Amoako Tuffuor Amoako Tuffuor

A founding member of the governing New Patriotic Party (NPP), Dr Kwame Amoako Tuffuor, has suggested the establishment of a food regulatory authority, which will play a superior role in the national buffer stock company with the core mandate of ensuring regular supply of foodstuff in times of crisis.

Discussions on the state of Ghana’s food security has come to the fore in the wake of the COVID-19 pandemic, as a result of border closures among fears of a decline in domestic production.

Speaking on the Executive Breakfast Show (EBS) with Benjamin Akakpo on Tuesday, 5 May 2020, Dr Amoako Tuffuor reiterated that the National Buffer Stock Company is not enough to rescue the country in times of food crisis, which poses a security threat.

He said: “Buffer stock is very important. What is being done is good but is not enough. You need something superior than that then you can sell some to buffer stock to buffer their stocks to help schools to make sure that you don’t compete with your little farmers that are producing for Makola and Kumasi central market…

“It can be done, I’m a businessman and a farmer because food shortage is a national security problem. You can have locust sweeping through your country, they can wipe existing stocks of food, we can have droughts…”