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Ghana is moving to cut its palm oil import bill by 200 million dollars, using a new partnership with China to rebuild its farm sector and reduce pressure on foreign exchange.
At the Chinese Lunar New Year Gala 2026 in Accra, Agriculture Minister Eric Opoku made it clear that the country wants investment, not donations. “We are not seeking aid. We are building joint ventures,” he said. He urged Chinese companies to move “from trade to production”.
The message signals a shift in Ghana’s economic thinking. For years, the country has spent heavily on importing palm oil and other food products. Now, the government wants to produce more at home, process locally, and supply both domestic and regional markets.
At the heart of the plan is the Integrated Oil Palm Development Programme, which will run from 2026 to 2032. The project aims to develop 100,000 hectares of oil palm plantations and create 250,000 jobs. Officials say the expansion will sharply reduce palm oil imports and save the country about 200 million dollars in foreign exchange.
The programme is part of a wider strategy to make agriculture the engine of economic recovery under President John Dramani Mahama. According to the minister, the 2026 national budget places farming at the center of plans for industrial growth, export expansion, job creation, and currency stability.
Beyond palm oil, the government is rolling out large-scale support for farmers this year. It is distributing 31,000 metric tons of rice seed, 4,388 metric tons of maize seed, and 2,791 metric tons of soybean seed. In addition, 272,000 metric tons of fertilizer will be supplied to boost yields.
Irrigation is also a key focus. Authorities are expanding irrigation systems and building dams in northern Ghana to reduce reliance on rainfall, which has become less predictable due to climate change. Mechanization and agro-processing are being promoted to cut post-harvest losses and increase value addition.
Chinese companies are being invited to invest in irrigation technology, farm machinery, processing plants, and equipment assembly. Ghana is offering structured land banks and highlighting its access to the ECOWAS market of more than 400 million people as an added incentive.