PROJECT DEVELOPMENT OBJECTIVES
Is 100% Ghanaian owned company, which has engaged in farming and juice production company for the last 10 years at Dobro Nsawam and Fotobi. Now Akuafo TV seeks to process high quality ginger powder and oleoresins for export. The raw ginger will be sourced from its farm operations, and a cluster of carefully selected local farmers. One business model has the dried ginger processing project in year 1 production would process 1,920 MT of fresh ginger input using 20% of the plant capacity into 600 MT dried ginger for the local and export market, generating up to $2.1 million in revenues. There are two other business models under consideration, which would be equally profitable, and doable. The plant supported by its core agronomy team will begin operations in January 2019 and would source 60% of its ginger requirements from Combined Farms Ltd farms at Fotobi, and 40% from carefully selected and trained group of cluster farms.
Pepper, vanilla and ginger are the world’s three most traded spices in the $4.7 billion spice sector
Of the three most traded spices, Ghana has an untapped competitive advantage to produce, process and market Ghana made ginger to capture a fair share of the global demand for $757 million ginger global market (2016 FAOSTAT). EU imports in 2017 of dried ginger reached 160 thousand tons at an estimated value of $287 million/€250 million. Since 2013, the import volume has increased by 12% annually, while the import value increased by 13% in the same period. Ghana has an unexploited competitive advantage to establish a successful export market and grow market share in the European Union (EU), because of long history of trade and development relations, fertile land, and nearness to the growing market in the EU, and potentially the USA.