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03 September 2016

Agric export earnings shoot up to $396 million

AgricStatistics recorded by the Ghana Export Promotion Authority has revealed that earnings from the agric sub-sector recorded an increase of 16.51% in 2015.

According to the export authority, earnings from the agric sub-sector amounted to USD396.91million in 2015, compared to the USD340.68million recorded in 2014.

The top ten leading agric products which pushed the industry’s growth earnings include cashew nuts which recorded a 56% increase in export production.

Palm nuts and Kernel at a growth rate of 88.07 percent, banana 52.36 percent and mangoes shot up by 21.95%. Other products that helped in pushing the industry’s earnings up but recorded declines in percentage change include Shea nuts which recorded a plunge in production as it recorded a 34% decrease.

Medicinal plants and parts which recorded 51,991,308 in 2014 saw a sharp decline in 2015 recording USD28,995,008. Fresh or chilled tunas also recorded a 35% reduction while other chilled fish declined by 63.03% in the year 2015.

Chief Executive Officer of Ghana Export Promotion Authority, James Tiigah attributed the increase mainly to the increase in agricultural produce exports, particularly cashew nuts.

He was speaking at the launch of the 2015 Non-Traditional exports statistics in Accra on Thursday.

“Exports of nontraditional products from January to December 2015 amounted to USD2.522million representing an increase of 0.32% over the year 2014. That is 2015 the actual revenues that were contributed came to USD2.514million.
The slight increase in the export of the nontraditional process came mainly from the increase in agricultural products especially cashew nuts.”

Mr Tiigah also believes Ghana’s export market could be enhanced if exporters produce to suit the international market needs.

“I think that we should promote, we should at least find a way of resourcing the primary producers who are in the market of exports. We should make sure that we offer products according to what our consumers want”

Meanwhile other figures released by the Ghana Export Promotion Authority revealed non-traditional export performance also amounted to USD2.522billion, an increase from the USD2.514billion recorded in 2014.

Non-Traditional Export products cover all products with the exception of Cocoa Beans, Lumber and Logs, Unprocessed Gold and other Minerals and Electricity.

 

 

Source: citifmonline.com

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