Crop Name: Rice I_2023

Description: Rice (Oryza sativa) is the most important food crop and the major dietary component for more than a third of the world’s population. It is grown on all five continents under a wide range of climate and geographical conditions. Rice is the only cultivated cereal adapted to growing in both flooded and non-flooded soils. It is an annual grass with round, hollow jointed stems, flat leaves and a terminal panicle or inflorescence. The crop was brought into Africa by the colonial Portuguese colonial masters in the sixteenth centuries. Since then, it has grown to become the number two staple in Ghana currently. The varieties commonly grown include traditional variety, Jasmine 85, EX-Bakai, Agra etc. The methods of production adopted by most farmers are purely traditional (valley-bottom rive and upland) and controlled flooding adopted by farmers within the Ghana irrigation project areas. It is grown on about 239,340 ha of land with majority of the cultivation concentrating in the Northern, Upper East and West region, Volta regions of Ghana. Other regions include, Eastern, Greater Accra, Western, Central, Ashanti and Brong Ahafo region. The average yield by most farmers is an estimated 2.5 tons/hectare while the achievable yield from most farm trials is 6-8 tons/hectare. According to Ministry of Food and Agriculture in Ghana, the country still has a deficit of over 500,000 tonnes of rice to meet the demand of the crop as a staple. This deficit is met largely by import from Thailand, Vietnam and India. This deficit possesses a great opportunity for the production of the crop having the assurance that the market to sale harvested grains is available. Import levies and taxes put in place by government on imported rice provides a great potential for rice production in the local market. Rice, paddy production in the year 2019 was 925,000 tonnes with an average annual growth rate of 9.03%. Despite these increase, productivity is very low and unable to meet the country’s demand making imported rice account for about 50 -70% of rice consumed locally

Cost per Acre: GHȼ1771.00

Cost per Unit: GHȼ221.38

Operational Charge: 10.00%

Estimated Revenue per Unit: 15.12% - 25.97%

Duration: 20th May 2023 - 30th Nov 2023

Business:

1. It's very important to note that the end date only serves as an estimation of the commodity's maturity. The harvesting and trading of the commodity typically takes one to three months. Therefore, payment will be made following the successful sale of the farm's produce. For further details, make sure to read the terms and conditions.

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