17.05.2005 Business & Finance

Ghana capable of meeting domestic needs of palm oil

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Inchaban (W/R), May 17, GNA - Mr Ishmael Yamson, Board Chairman of the Benso Oil Palm Plantation (BOPP), said on Tuesday that Ghana does not need to import palm oil to meet its domestic needs. He said the country could meet its internal needs of the commodity if special attention is paid to the President's Special Initiative (PSI) on oil palm.

Mr Yamson said this in response to an answer at the first annual general meeting of BOPP at Inchaban near Sekondi on Tuesday. He said the PSI is not to compete with the Ghana Oil Palm Plantation (GOPP), Twifo Oil Palm Plantation (TOPP) and BOPP or existing companies and assured shareholders that the country rather needs more of such innovations to meet the increasing demand for oil palm.

"The country can save a lot of foreign currency if the PSI on oil palm in collaboration with GOPP, TOPP and BOPP increase its production" he said.

Mr Yamson said the PSI is good for the various plantations, the domestic market and other oil palm users and urged individuals engaged in the PSI on oil palm to take the project more seriously. He said the listing of BOPP on the Ghana Stock Exchange was a strategic step aimed at leading the way in restructuring the country's economy. 17 May 05

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