A pig farmer at Ho in the Volta region, Mr. Abotsi Francis has said, high interest rate on loans is affecting their business.
He stated that, the interest rate placed on loans by the banks is very high which the farmers cannot even pay after they have gone in for the loans leaving them in debts.
Speaking to Rite news Mr. Abotsi observed that agriculturally oriented countries like Laose access loan facilities at only 2% interest rate doubled with their government subsidizing agriculture products but in Ghana a farmer pays 22% to 27% interest on loan which is a big challenge to them.
He said before they can continue to produce more pigs to meet the demand, government has to come in to support the farmers through the establishment of processing factory for producing the feed to ease the higher price on the market.
Source: ritefmonline.org
