Finatrade supports local rice production

Page 48: Daily Graphic, January 23, 2009.
Story: Albert K. Salia
THE Finatrade Group of Companies have contracted a number of local firms to supply 4,000 tonnes of locally produced rice as part of measures to boost local rice production.
Under the package, the rice would be branded Pride by CCTC Limited, to provide ready market for the locally produced rice.
So far, 700 tonnes of the locally produced rice have been provided by the trading enterprises.
The Corporate Affairs Manager of Finatrade, Mr John Awuni told the Daily Graphic yesterday that the company was still open for discussions with other trading firms to supply the locally produced rice to the company.
He said officials of the company have also embarked on an interaction with some rice farmers to assure them of a ready market for their produce.
He said the company was also holding discussions with the Millennium Development Authority (MiDA) to help refine the production, processing and marketing of locally produced rice.
Mr Awuni said the company acknowledged that the local rice sector was beset with problems mainly from the production, processing and marketing units.
Besides, he said, there were also problems of inadequate and unreliable statistics of farmers output and yields, thereby making it difficult for effective planning.
According to him, multiple production varieties, inadequate fertiliser supply, poor milling facilities, low farmer extension services, coupled with high dependence on rainfall for production also mitigated against the expansion of the local rice sector.
Mr Awuni said CCTC was, however, poised to lead the expansion crusade of the local rice sector.
He said the company was also open for discussions with the government on how the two could collaborate to improve the sector.
“Our international partners are also ready to support the local rice sector. We can use our leverage in the marketing of rice in the sub-region to boost domestic rice production,” he said.