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Friday, 24 May 2013

Ghana : 7.2m EUR banana support package

A new 7.2 million euro package was launched at the beginning of May in the West African Ghana for strengthening the bananas' production and export sectors. The package is part of the European Commission’s Banana Accompanying Measures (BAM) programme.
Under the BAM programme, ten ACP countries are to benefit from a total of 190 million EUR of accompanying measures in the banana sector between 2010 and 2013.
The programme aims to help the ACP member states to cope with the new EU banana regime after December 2009, when the EU agreed to cut the EU's banana tariff for Latin American countries - its so-called Most Favoured Nation or MFN tariff - which lead to a decrease in the preferential margin which ACP countries enjoyed.  However, in the last period the ACP countries complained that the programme is not advancing at an appropriate rhythm.  
Out of Ghana’s 65,000 metric tons of annual banana production, about 50,000 tons are exported to the European Union, the EU Ambassador in the country revealed. This is a considerable increase from the 5,000 metric tons that the EU market received from Ghana in 2005.