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JAK Foundation, others sign MOU to improve rice production

The John A. Kufuor Foundation, Ghana Commodity Exchange (GCX) and the Ghana Rice Inter-Professional Body (GRIB) have signed a Memorandum of Understanding (MOU) to work together to improve rice production in the country.

The MOU also urges stakeholders in the rice sector to work towards promoting the consumption of local rice, improve access to markets and enhance its trade on the commodity exchange. The partners are confident this will to help boost the local economy.

“We will assist rice farmers with storage which will curtail postharvest losses. GCX will also help them know how to negotiate for good prices and the value chain stands to gain a lot from this arrangement,” Chief Executive Officer (CEO) of the John A. Kufuor Foundation, Prof. Baffour Agyemang-Duah told the ceremony. He also assured rice farmers will be assisted and equipped with the necessary and needed logistics to boost their work.

Nana Adjei Ayeh II who is President of the Ghana Rice Inter Professional Body (GRIB) was confident the future of the rice production industry looks bright with the signing of the MOU. “Paddy rice production in Ghana is around 450,000 metric tonnes but with this agreement, we will shoot up to 750,000 metric tonnes next year,” he announced.

Chief Executive Officer (CEO) of Ghana Commodity Exchange Dr. Kadri Alfah described the MoU as a good move that will help bridge the gap between rice producers and consumers.