Ghanaians told to take advantage of high demand for cassava starch

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Cassava Starch
Cassava Starch

Madam Priscilla Fiati, a Business Development Manager at the Torchbearer International Agricultural Science and Technology Group (TIAST Group) has stated that the demand for some of the processed end products like cassava starch has gained a huge demand on the international market exceeding its supply which Ghana must benefit by producing for this ready market.

She noted that China alone imports over three (3) million of cassava starch every single year worth 30 billion US dollars and expressed the hope that Ghana can be part of a value chain where everything we produce can earn us millions of US dollars annually, help create more jobs and alleviate poverty.

She indicated that her outfit has secured a ready market of over 600,000 tons ordered per year to assist producers in selling all their processed goods on a weekly basis, saving them the headache of finding buyers for their processed products and therefore called on Ghanaians to take advantage of the huge opportunities in the production of cassava.

Madam Priscilla made the remarks when addressing participants at the ongoing 6th Agricultural Industrialization Conference in Takoradi under the theme, “Financial and Technological Support for Agricultural Processing organised by the TIAST Group in partnership with the Stanbic Bank.

She opined that TIAST Group is ready to provide full technology set up for the factories, provide on time factory support to its partners or clients, provide on-site technical engineers to facilitate an effective, efficient and smooth running of the factories, provide timely and professional maintenance services and also train all the local technical operators on site to have the requisite technical know-how.

She recounted that on September 9, 2020 the TIAST West Africa successfully signed an MOU with the Stanbic Bank to invest 70% – 80% of the total financing needed for the factory projects to cover the equipment, installation, training, civil and steel structure works, water treatment system and the full factory set up accompanied with other added benefits.

She noted that agriculture in Ghana and Africa has great potential and a bright future, unfortunately, the industry suffers lots of challenges which includes engaging in subsistence farming to produce raw products for local consumption which earns us little money, and the reluctance of banks to invest in agriculture due to security reasons.

She added that there is also inadequate technology for efficient production, lack of value addition to products and worst of all no assurance of a ready market and return on investment and said her outfit was presenting special projects give everyone the opportunity to own a processing plant with a guaranteed ready market for the processed products, technology and technical support as well as financial lease.

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1 COMMENT

  1. Great news for the agricultural sector. This is unbelievable but amazingly is real.

    Other investors are also invited to emulate the TIAST initiative.

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