Mahama to exempt agriculture purpose equipment from import duty

Exempting agriculture purpose equipment from import duty can have several benefits for the agriculture sector and the economy as a whole:

Encouraging investment in agriculture: Exempting agriculture purpose equipment from import duty can make it more affordable for farmers to acquire the necessary tools and machinery for their operations. This can encourage investment in the agriculture sector, leading to increased productivity and efficiency.

Improving agricultural productivity: Access to modern and efficient equipment is essential for improving agricultural productivity. Exempting agriculture purpose equipment from import duty can help farmers upgrade their equipment, leading to higher yields and better quality produce.

Supporting smallholder farmers: Smallholder farmers often lack access to modern equipment due to high costs. Exempting agriculture purpose equipment from import duty can level the playing field for smallholder farmers, enabling them to compete more effectively in the market.

Promoting food security: A more productive and efficient agriculture sector can contribute to food security by increasing the availability of food products and reducing reliance on imports. Exempting agriculture purpose equipment from import duty can help boost food production and ensure a stable food supply.

Stimulating economic growth: The agriculture sector plays a significant role in many economies, particularly in developing countries. Exempting agriculture purpose equipment from import duty can stimulate economic growth by increasing agricultural output, creating jobs, and supporting rural development.

It is, therefore, apt for H.E. John Dramani Mahama, the 2024 flag-bearer of the NDC to propose the exemption of agriculture purpose equipment from import duty.

This initiative could potentially bring about the benefits mentioned earlier, such as cost savings for farmers, increased agricultural productivity, encouragement of technological advancements, support for rural economies, and promotion of food security. By exempting import duties on agriculture equipment, the government could potentially incentivise farmers to invest in modern machinery and tools, ultimately leading to a more efficient and sustainable agricultural sector in Ghana.

Anthony Obeng Afrane