Jospong Group enters agreements with significant Thai rice producers in order to increase domestic rice output.

Ghana imports more than 60% of its rice every year, which has disastrous economic effects. Between 2007 and 2015, the amount spent on imported rice increased from $151 million to $1.2 billion annually, with imports from Thailand, Vietnam, and India mostly serving to supplement domestic consumption.

The amount of rice imported by Ghana each year, which is approximately 1.3 billion USD, keeps rising. Only the substantial financial input by major sector participants from the private sector would be able to change this negative narrative in the rice industry. It is excellent news that JGC decided to heed the government’s request and enter the sector, particularly in value addition.

The JGC has always taken the lead in enhancing people’s lives by offering answers to issues.

With land banks in place, JGC has already started producing rice on its 100,000 acres. To realise this aim, the Group plans to collaborate with the Ghana Rice Inter-professional Body (GRIB) and other regional rice players. Integrated rice farming techniques are used in the project, including seed development, paddy production, milling, packing, and marketing. The delegation met with Thai rice industry leaders during their tour and had discussions with them.

This featured the Thai Farmers Lifestyle and Learning Center, Thai EXIM Bank, and producers of rice-related machinery like Kubota, Satake, and Deler Engineering Services.

After being impressed, the Thai EXIM Bank declared its willingness to assist JGC. The delegation also went to Kasetsart University, the Institute of Food Research and Product Development, and fertiliser producers.