Soyabean farmers bemoan drop in demand, price of crop over ban on exports

The Ghana Soyabean Farmers and Aggregators Association has called for the repeal of the Legislative Instrument (L.I. 2432) imposing a ban on the export and import of soyabeans.

In a press conference held by the Association on April 24, 2023, the Association noted that due to ban on the crop since September 2021, the farm gate price of soyabean has dropped to GHS 400 from the previous price of GHS 600.

Additionally, the demand for the crop has witnessed a significant decline with both local and foreign investors gradually withdrawing their investments in soyabean production.

Given the prevailing difficulties faced by farmers and the soyabean industry at large, the Association is of the view that, there was no need for the passage of the L.I. 2432.

The Association is therefore recommending that a 7 member committee be aet up by government to license exporters of soyabeans should be dissolved immediately.

Also, government without delay should repeal the export and import restriction of soyabean regulation 2020 (L.I. 2432) and lift the ban on soyabeans exportation to allow Ghanaian farmers make money from their toil.

The Export and Import Restriction of Soyabeans Regulation 2020 (L.I. 2432) passed on October 5, 2020 was to provide a licensing system for exportation of soyabeans in commercial quantities out of Ghana to ensure availability of soyabeans for domestic use to meet local processing requirement for animal production.

The imposition of the ban, farmers say, has become a thorn in the flesh as government agencies use the L.I. to obstruct soyabeans trade in and out of the country.

Source: norvanreports.com