As Ghana’s cocoa sector is diminishing at a faster rate as well coconut, the citrus and juice industry are likely to be the next game changer in the country’s economic woes as it currently stands to rake in over $300million per annum through exports of these local fruits to the international market.
This could be the drive for economic transformation for the country if the numerous opportunities within that sector are given the need for credit support.
According to experts from the industry, Ghana stands to rake in over $300 million per annum from the processing of these local fruits for exports if the Citrus and passion fruits industries are merged.
An industrial expert, Lawyer Kobbyna Acquah says “If Ghana could grow this industry like the way Japan developed its automobile industry that is Toyota, and how Korea grew developed its electronic hub, -Samsung etc, Ghana could lead in the emerging fruits and Juices industries with potentials like coconut water and coconut milk, the country can be earning over $1.5billion annually and also creating a sustainable job of over 800,000 in the value chain”.
These earnings could improve the country’s balance of payment, strengthen its reserves as well as stabilize the currency.
It’s becoming clear that Ghana harnessing its natural exotic agricultural resources creates a huge transformation for the Economy.
Currently, products like Ekumfi juices, which are made from Ghana’s natural pineapples, gingers, oranges, and other fruits are creating huge sustainable income for local farmers and also serving as a new breath of hope.
The Ekumfi Juice factory and its partner products which include natural juices, teas, natural low zero alcohol beer, naturally infused drinks, and more have continued to save the country close to US$250 million annually through import substitution.
The Ekumfi factory is said to have great export potential since there has been a great interest on the international market.
Recently, the company was rated a Pro-Seller for only 200 days on Walmart.com. With such goodwill, the company has been given an option to sell in stores and a main supply but the challenge is its ability to meet the huge demand coming from a large retail company with over 11,000 outlets.
This could be one of the most regenerative sustainable incomes to sustain farmers, youth employment as well and huge forex returns to protect the Ghana cedi.
The facility is the biggest fruits processing factory in West Africa, with the capacity to process 10 tons of fruits per hour and it has put Ghana on the international radar with regard to competition of products on the export market.
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