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Local rice industry backs Cargo Tracking Note

Cargo Tracking Note (CTN) is to prevent Rice importers from under-declaring their goods. It said that it will enhance fairness in the rice market and ensure both local and foreign rice are sold at their right prices.

Imported rice, for so long especially for those smuggled into Ghana or under-declared at the ports, has been sold cheaper than that produced locally, a situation which worsens the plight of already struggling local producers.

Evans Sackey Tye, Executive Secretary of the Ghana Rice Interprofessional Body (GRIB), told media in an interview, we are working hard to increase production in the Rice Industry and so when importers do not pay the right duty, it means that we are getting rice at prices less than the locally produced ones. Already, we are uncompetitive in terms of financial risk support.

It said, other rice-producing countries have lower interest rates on loans, whereas we have huge interest rates. So, this, in the first place, is making pricing very uncompetitive and this is deterring people from investing in the rice industry because when they invest, they cannot even sell the rice at good prices.

But the more you reduce the price, the more you lose, and that is not encouraging investment in the rice sector,” he said.

The post Local rice Industry Backs Cargo Tracking Note appeared first on Ghana Live TV.



This post first appeared on Watch Gtv Ghana, Adom TV, Tune Ghana Radio GhanaLi, please read the originial post: here

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Local rice industry backs Cargo Tracking Note

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