Buffer Stock Company to roll out policy to address hikes in food prices

With the rising cost of food in recent months, the National Food Buffer Stock Company is set to roll out a programme to drive down prices on the market through the direct supply of foodstuff at competitive prices.

The Price Stabilisation programme is part of measures to ensure that Ghanaians have access to food at affordable prices.

Management of the company made this known when the Speaker of Parliament paid a surprise visit to the firm.

“There is an ongoing consultation between the Greater Accra Regional Minister and the Buffer Stock Company Limited. They are looking at the situation whereby the government can buy foodstuff and bring it to the major market. This will help in the price stabilisation as other actors in the market are taking advantage of the government’s inability to provide this alternative to sell their commodities to consumers at any price that they deem fit.”

The National Food Buffer Stock Company recently indicated that it has enough supplies for schools, but is working to increase the stock levels. The CEO of the company, Hanan Abdul-Wahab had said contrary to suggestions, the company is making impressive strides to store more food for later distribution to schools.

He said, the challenges facing the company have to do with the food products that are imported, but efforts are being made to find locally produced alternatives.

He gave this assurance after the Speaker of Parliament Alban Babgin paid a working visit to the company to familiarise himself with the company’s challenges and the possible way Parliament can intervene.