Ghana is reportedly failing to utilise a $300 million opportunity in the oil palm plantation sector due to the challenge of land acquisition.
This was because palm oil played a major role in the industrial set up of the country, where it was mainly used for personal care products and processed foods.
Although Ghana can cultivate the plant and make the most of it, it was still importing oil palm, making it lose foreign exchange in the process, while the same product could have created employment for people when individuals get access to land for oil palm plantations.
Reports say that the country has only relied on a few oil palm plantation companies, which have not been very encouraging.
The failure to commit vast acres of land for it also has contributed greatly to the importation of oil palm for industrial use when the country could have cultivated it for export.
– APA