African News Business and Economy

Ghana Targets $2bn Cut in Palm Oil Imports

By Ajuma N / August 13, 2025

Ghana produces only 50,000 metric tons of palm oil yearly but consumes five times more. This gap is filled by imports, costing the country about $2 billion annually. Government plans to boost local production through a national palm oil industry policy. Measures include giving 1.5 million seedlings to farmers and offering cultivation incentives. The aim is to develop 50,000 hectares and attract $100 million in private investment.

From July 2025, importers will need permits to bring palm oil into Ghana. Challenges remain, such as poor processing facilities and weak industry coordination. Success could boost rural jobs and exports, but failure would keep Ghana dependent on costly imports.

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Ajuma N

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