The Rice Millers Association of Ghana, has described governments new directive to adjust the benchmark value policy to 30 percent discount for all goods and 10 percent for vehicles as a political move which goes against the country\u2019s industrialization agenda.<\/p>\n\n\n\n
They argue the move will ultimately collapse the local rice industry.<\/p>\n\n\n\n
The association had long advocated for a reversal of the discounts, as they argued that the implementation of the 50% benchmark policy over the last two years has led to the shutdown of a number of local rice mills.<\/p>\n\n\n\n
<\/p>\n\n\n\n
The benchmark value reduction policy, according to them, made imported rice cheaper by 25%, thus contributing to the competitiveness of local rice on the market.<\/p>\n\n\n\n
Local rice farmers in 2019 began to gain some ground after the Ghana Rice Campaign spearheaded by, Samuel Attah-Mensah.<\/p>\n\n\n\n
The benchmark value reduction policy was however introduced in that same year. The news of the reversal of the policy announced in the 2022 budget was therefore welcomed by local rice farmers, who were hopeful of fair competition.<\/p>\n\n\n\n
They now argue that their hopes of growing the local rice industry have once again been dashed with government\u2019s latest decision to implement a 30 percent discount on all goods and a 10 percent on vehicles.<\/p>\n\n\n\n