The Minister of Food and Agriculture has announced the reduction of fertilizer prices by 50 percent, a move he said will boost crop production.

Dr. Owusu Afriyie Akoto said the move is to also motivate farmers, improve crop yields and increase export.

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The reduction comes as the Akufo-Addo administration prepares to launch the “Planting for food and jobs” programme which is estimated to employ some 700,00o youths.

Compound fertilizer (NPK) will be sold at GH¢57.50 instead of the GH¢85.00 and Urea will be sold at GH¢47.50 instead of the GH¢80.

“Organic fertilizer will be GH¢15 flat. What it means is that the 57 cedis represents 50% reduction as the subsidy amounts to 50%. The cost to the government is Ghc115 per bag of 50kg for NPK which is the most common form of fertilizer. A farmer is paying only half of it, which amounts to Ghc57.50 pesewas.” Dr. Afriyie Akoto said.

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He expressed hope that the reduction will encourage more farmers to apply fertilizers in order to raise productivity.

“In terms of comparison with last year, we hope that this huge reduction in price for the farmer would encourage more farmers to apply fertilizers so that we can raise the productivity on the farms this year,” he said.