The high feed cost continues to be a significant challenge for Ghana’s aquaculture industry, affecting its competitiveness in both local and international markets.
According to Seth Akwaboah, CEO of the Association of Ghana Industries, the cost of producing a kilogram of fish in Ghana is $2.15, nearly double that of other countries, including some within Africa.
“This high production cost is making our industry quite uncompetitive,” Akwaboah remarked at the Aquaculture 2024 event held in Accra. He further highlighted that the price of fish has surged by about 200% over the past two years, exacerbating the situation for both producers and consumers.
The escalating feed costs are not limited to the aquaculture sector alone. Similar issues plague the poultry and pig farming industries, where the cost of feed remains a major barrier.
“The key ingredients such as maize, soya, sorghum, and other essential components for feed production are not being produced at scale,” explained Akwaboah.
This lack of mass production and the absence of advanced technology have led to inconsistent and inadequate supply, forcing some industry players to resort to imports.
Akwaboah emphasised the need for greater stakeholder collaboration to address these challenges and build a resilient and strong aquaculture industry. He pointed out that despite having off-takers ready to purchase, the industry’s inability to produce in large commercial volumes remains a stumbling block.
The event, themed “Stakeholder Collaborations: A Key to Building a Resilient and Strong Aquaculture Industry,” called for strategic partnerships and investments to enhance local production capabilities. Industry players believe that reducing feed costs is crucial for the growth and sustainability of Ghana’s aquaculture industry.
Reporting by Caleb Ahinakwah in Accra
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