{"id":55653,"date":"2022-11-18T18:13:27","date_gmt":"2022-11-18T18:13:27","guid":{"rendered":"https:\/\/www.kumasionlinegh.com\/?p=55653"},"modified":"2022-11-18T18:13:32","modified_gmt":"2022-11-18T18:13:32","slug":"importers-exporters-warn-of-looming-food-shortages-over-withdrawal-of-fx-support","status":"publish","type":"post","link":"https:\/\/www.kumasionlinetv.com\/?p=55653","title":{"rendered":"Importers, exporters warn of looming food shortages over withdrawal of FX support"},"content":{"rendered":"\n<p>The Importers and Exporters Association is warning of possible food shortages and a further surge in food inflation in the coming days.<\/p>\n\n\n\n<p>The warning comes on the back of the announcement by the Bank of Ghana to cease the supply of forex for the importation of some commodities in accordance with President Akufo-Addo\u2019s directive in his Address to the Nation on the Economy delivered on Sunday, 30th October 2022.<\/p>\n\n\n\n<p>A message from the Central Bank to commercial banks stated that: \u201cin accordance with the president\u2019s directive, issued in his recent address to the nation on the Ghanaian economy on Sunday 30 October 2022, the Bank of Ghana will no longer provide FX support for the imports of rice, poultry, vegetable oils, toothpicks, pasta, fruit juice, bottled water, ceramic tiles, and other non-critical goods.\u201d<\/p>\n\n\n\n<p>But the Importers and Exporters Association warns that the directive if implemented will have dire consequences on the supply of food and other basic supplies in the country.<\/p>\n\n\n\n<p>Sounding the word of caution, the Executive Secretary of the Importers and Exporters Association, Samson Asaki Awingobit, said Ghana currently doesn\u2019t have the capacity to enforce the directive to the latter without expected shortages.<\/p>\n\n\n\n<p>\u201cI can tell you that within the shortest possible time, we will see an uprise in prices of these commodities [rice, poultry, vegetable oils, toothpicks, pasta, fruit juice, bottled water, ceramic tiles] especially if the Bank of Ghana goes ahead to implement this policy to the latter.\u201d<\/p>\n\n\n\n<p>He elaborated that \u201cwhat it means is that those who have these stocks in their warehouses, they will hoard them and by January, we will begin to see some shortages because the Commercial Bank will not have the forex to satisfy the market and so if the Bank of Ghana will not come in to help them, what it means is that only a few people will be able to raise these monies to go and bring these things.\u201d<\/p>\n\n\n\n<p><strong>SEND A STORY:<\/strong>\u00a0Do you have a story for us or need a promotion \/ advertisement? Submit them via our email\u00a0<strong><a href=\"mailto:dannyboy744@gmail.com\">dannyboy744@gmail.com<\/a>\u00a0and via on +233 266777777<\/strong><\/p>\n\n\n\n<div class=\"wp-block-jetpack-instagram-gallery\"><a href=\"https:\/\/www.instagram.com\/kumasionlinetv\/\" rel=\"noopener noreferrer\" target=\"_blank\">https:\/\/www.instagram.com\/kumasionlinetv\/<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Importers and Exporters Association is warning of possible food shortages and a further surge in food inflation in the coming days. The warning comes on the back of the announcement by the Bank of Ghana to cease the supply of forex for the importation of some commodities in accordance with President Akufo-Addo\u2019s directive in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":55655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"iawp_total_views":1,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-55653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Importers, exporters warn of looming food shortages over withdrawal of FX support - Kumasi Online TV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kumasionlinetv.com\/?p=55653\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Importers, exporters warn of looming food shortages over withdrawal of FX support - Kumasi Online TV\" \/>\n<meta property=\"og:description\" content=\"The Importers and Exporters Association is warning of possible food shortages and a further surge in food inflation in the coming days. The warning comes on the back of the announcement by the Bank of Ghana to cease the supply of forex for the importation of some commodities in accordance with President Akufo-Addo\u2019s directive in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.kumasionlinetv.com\/?p=55653\" \/>\n<meta property=\"og:site_name\" content=\"Kumasi Online TV\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-18T18:13:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-18T18:13:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.kumasionlinetv.com\/wp-content\/uploads\/2022\/11\/Rice-imports-594x375-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"594\" \/>\n\t<meta property=\"og:image:height\" content=\"375\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kumasi Online\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kumasi Online\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.kumasionlinetv.com\\\/?p=55653#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kumasionlinetv.com\\\/?p=55653\"},\"author\":{\"name\":\"Kumasi Online\",\"@id\":\"https:\\\/\\\/www.kumasionlinetv.com\\\/#\\\/schema\\\/person\\\/71129f20b230eb698b6e82454423d7de\"},\"headline\":\"Importers, exporters warn of looming food shortages over withdrawal of FX support\",\"datePublished\":\"2022-11-18T18:13:27+00:00\",\"dateModified\":\"2022-11-18T18:13:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.kumasionlinetv.com\\\/?p=55653\"},\"wordCount\":364,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.kumasionlinetv.com\\\/?p=55653#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.kumasionlinetv.com\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/Rice-imports-594x375-1.jpg\",\"articleSection\":[\"BUSINESS\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.kumasionlinetv.com\\\/?p=55653#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.kumasionlinetv.com\\\/?p=55653\",\"url\":\"https:\\\/\\\/www.kumasionlinetv.com\\\/?p=55653\",\"name\":\"Importers, exporters warn of looming food shortages over withdrawal of FX support - 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