Joe Jackson raises alarm over impending food crisis in the country
“We are in trouble and policymakers must start putting in place measures to mitigate the challenges ahead,”
In a stark warning, Joe Jackson, Director of Operations at Dalex Finance, has sounded the alarm on the potential for a food crisis in Ghana, attributing the looming threat to the recent spillage from the Akosombo Dam.
Mr Jackson contends that the spillage has significantly impacted farms in the Volta Basin, traditionally known as the country’s food basket, jeopardizing nearly 40% of the country’s food production.
Speaking on the NorvanReports and Economic Governance Platform X Space on the topic, “Is Ghana’s Agriculture Sector In Danger?” on Sunday, Mr Jackson expressed his concern about the gravity of the situation, emphasizing that policymakers have yet to fully acknowledge and address the impending danger.
Drawing attention to the alarming 44% food inflation rate for October per data from the Ghana Statistical Service (GSS), a deviation from the usual dip during the harvest season, he raised pertinent questions about the trajectory of inflation in the months to come.
“There is danger ahead and policymakers are yet to acknowledge and recognise the danger. Food inflation for the month of October is 44%, in the last five years, food inflation in October plateaus because the harvest season is usually around August and September, so food inflation usually dips in October and increases in the months ahead. So if it is high in the month of October, what do you think it will be in the coming months,” he quizzed
Ghana, already grappling with high inflation and a debt crisis, is now confronted with the imperative to implement decisive measures to avert a potential food crisis.
Mr Jackson underscored the urgency for policymakers to proactively address the challenges ahead, warning that projections indicate a plausible food crisis as early as January 2024.
“We are in trouble and policymakers must start putting in place measures to mitigate the challenges ahead,” he quipped.
The confluence of factors, including the dam spillage, existing economic challenges, and high inflation figures, paints a troubling picture for Ghana’s agricultural sector.
As the nation braces for the possible ramifications, policymakers are urged to formulate and implement robust measures to mitigate the impending risks and safeguard food security.
Source:norvanreports
