The commodities sector is a very important sector of most developing economies and exports revenues from these commodities dominate foreign exchange earnings. In some cases, earnings from the sale of commodities dominate government revenues as well. Domestically, majority of the workforce in some cases, as high as 65% is often employed in the sectors that produce these commodities.
Over the years, Ghana has become a net importer of goods and services which is normally referred to as Non-Oil in the accounting of the Balance of Payment (BoP). Ghana spends approximately US$ 400 million on the importation of sugar and related products each year. It also spends about US$600m annually to import rice and related products. Total rice imports to Ghana stood at about 600K MT in 2021 whilst raw sugar imports stood at approximately US$151 million in 2020.
This report place emphasis on the imports of rice and sugar by focusing on the key players in the sector, value chain, demand and supply dynamics, foreign exchange dynamics and financing opportunities for the Bank.
