Benso Oil Palm buys 11.933 metric tonnes of fresh palm fruits worth GH¢11.8m

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The Communication Director of Tullow Oil Company, Mr Gayheart Edem Mensah has observed that, Ghana earns more than it’s 13 per cent share from the oil find off the shores of the Western Region. He said Ghana also earns a 35 per cent corporate tax on every load of oil sold in addition to a royalty of five per cent. Mr Mensah explained that though the oil revenue could increase the earnings of the country, the amount was not sufficient to turn the country into a prosperous nation over night and there was therefore the need to manage the expectation of the people from the oil find

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Page last updated at Monday, June 20, 2011 8:08 AM //

The Benso Oil Palm Plantation (BOPP) purchased 11.933 metric tonnes of fresh palm fruits at an estimated cost of GH¢11.8 million from 438 smallholder farmers in 2010.

Mr Samuel Avaala, Estate Manager of the Company, announced this at the 9th Annual General Meeting of the Benso, Adum Banso, BOPP Smallholder Association (BABBSA) at Adum Banso at the weekend.

The meeting was on the theme: “Empowering Smallholder Farmer into a sustainable financial management.”

Mr Avaala said the output of smallholder farmers was expected to be higher this year because many of them were using fertilisers for production.

He said palm fruits to be purchased by the BOPP would therefore increase threefold.

Mr Avaala commended the government for assisting to boost oil palm production by subsidising the price of fertilisers to members of the association.

Mr Fiifi Ampong, Secretary of BABBSA, said members of the association were buying fertilisers at high cost before the introduction of the subsidy of fertilisers for the association in May this year.

He expressed the appreciation of the association to the government for assisting the members to increase production at a reduced cost.

Mr Ampong urged the government to make the subsidisation of fertilizer for the association a policy to assist to reduce poverty among smallholder farmers.

He said the association has a 55- acre palm oil farm at Benso, which was established in 2007 and was being managed with proceeds from smallholder investments.

Mr Ampong said the association has acquired another 20 acre plot of land at Benso Subiriso for a similar venture.

Dr (Mrs) Mary Opoku Asiamah, Western Regional Director of the Ministry of Food and Agriculture (MOFA) who was the Guest of Honour called on farmers to contribute towards the realisation of the Better Ghana Agenda.

She advised farmers to manage their farms on business lines by keeping records to prevent financial losses and ensure transparency and accountability.

They should also repay all loans granted them by the association and the government to enable them obtain more credit facilities.

Dr Asiamah said MOFA would help members of the association to improve their financial position and production through extension services.

Source: GNA

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Benso Oil Palm buys 11.933 metric tonnes of fresh palm fruits worth GH¢11.8m