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Cedi Depreciation Responsible for High Cost Of Fish Feed

By: Saddath Asiamah 

Over the years Ghana has been importing feed from across the world for aquaculture farmers and this was a problem for the farmers and the country as a whole. Due to this an industry emerged to produce the feed in Ghana for the benefit aquaculture farmers. The importation of the feed resulted in the prices rising astronomically which greatly affected the expenditure of the poor farmers and subsequent complaints from affected farmers it in large quantities as they use to buy.

Responding to the plight of the farmers on the Akuafo Se Sen segment of the Morning Ride on Friday, Mr. Jack the Managing Director of Ranna Fish Feed Industry Ltd on Rite FM acknowledged the high cost of the feed but said his outfit was doing their possible best to get their customers quality feed at affordable prices. He said they were working to improve the price for their customers to be able to purchase the feed in large quantities.

He said the increase in price is not deliberate but rather the result of the increase in the exchange rate in the global business market, adding that the appreciation of the dollar and the depreciation of the cedi have sharply contributed to this. According to Mr. Jack, Ghana feed is the cheapest in the world.

He said even though the cedi has depreciated in recent times, they were still managing to produce good and quality feed. He said enough and quality feed must still be given to the fish for their proper growth despite the high cost of the feed.

The Managing Director said fish feed is made up 50 percent soya beans which is not produced on that scale compared to like Zambia, Zimbabwe,  among other. He said even though fish feed is produced locally, that accounts for only 25% of what is needed with the rest imported.

He has therefore called for government aid in order for them to produce the feed in right manner.

Source: ritefmonline.org

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