… Win-win for Turaku Cattle Market traders, patrons

Livestock prices at the Turaku Livestock Market in the Kpone Katamanso Municipality have witnessed a slight reduction due to the strengthened cedi, as well as increased supply, ahead of Eid-ul-Adha. 

The Chairman of the Ghana National Livestock Breeders and Traders Association, Alhaji Moro Akakade, in an interview ahead of the Islamic festival, said the cedi's strength had made imported livestock more affordable, leading to price cuts.

Alhaji Akakade said although the traders use CFA for their business, the recent drop in the dollar's value against the cedi had brought about the fall of the CFA and led to a decrease in prices, making livestock more affordable and potentially boosting the market.

Alhaji Akakade said, for instance, that a cow that was sold for at least GH¢30,000 as of December last year was now going for at least GH¢25,000.

He said the selling price for a ram was also at least GH¢1,500, down from the GH¢2,000 recorded last December, making it more affordable to all.

He was optimistic that with a sustained foreign exchange environment, prices of livestock would continue to fall and make livestock more affordable to the public.

Challenges

Alhaji Akakade, however, lamented the lack of attention from the government despite the economic prospects and employment generated by the sector.

"The infrastructure here (Turaku Livestock Market) has seen little improvement, which affects the health of animals and overall operations,” he said.

He pointed out the poor state of the environment in the Turaku livestock market and called for improvements to be made to enhance the trade.

He was, however, optimistic that the new government would engage stakeholders to address the challenges and make the livestock industry a cornerstone of Ghana’s economic reset.

Alhaji Akakade reiterated promises made by President John Mahama prior to the December election to revamp the livestock sector and expressed hope that the promises would be fulfilled.

He emphasised the significant contribution the livestock industry makes to the country's economy through taxation and employment and urged the Assembly and the Ministry of Food and Agriculture to provide the needed support to the industry.

Writer's email: Benjamin.glover@graphic.com.gh