Ghana to Cut Palm Oil Imports by $2 Billion

The Ghanaian government plans to cut palm oil imports worth US$2 billion, according to a 2025 report from the Ministry of Food and Agriculture.

The report shows that Ghana consumes around 250,000 metric tonnes of palm oil each year, while local production is only about 50,000 metric tonnes. The gap is filled through imports, adding to a food import bill estimated at US$2 billion annually.

To close this gap, the government plans to roll out a National Palm Oil Industry Policy to boost local production and revitalise the value chain.

Under the initiative, 1.5 million oil palm seedlings will be distributed to farmers, who will also receive incentives to encourage cultivation. These farmers will join out-grower plantation schemes aimed at increasing production capacity and improving livelihoods.

The broader objective is to strengthen Ghana’s palm oil industry, reduce reliance on imports, and create jobs for unemployed youth in rural areas.

It is worth noting that the Oil Palm Development Association of Ghana reported a more than 50% drop in palm oil exports in 2024, blaming the decline on limited government support and inadequate processing facilities.