The National Food Buffer Stock Company (NAFCO) has so far licensed fourteen (14) companies to supply food commodities under its current procurement framework, Chief Executive Officer George Abradu-Otoo has disclosed.
According to him, the licensed firms are authorised to buy food items directly from farming communities across the country and deliver them to NAFCO warehouses for storage.
Speaking in an interview on Face to Face on Channel One TV on Tuesday, February 3, Mr Abradu-Otoo explained that once a company is licensed, it is allowed to operate through agents who procure commodities from producing areas such as Asutsuare and transport them to designated NAFCO warehouses.
“So far, we’ve licensed about 14 companies. They have their agents. Once you are licensed, you can go to places like Asutsuare to buy rice, deliver it to our warehouse and provide proof,” he said.
He noted that all food commodities supplied under the arrangement undergo strict verification before acceptance. Officials at the warehouses, including storekeepers and regional managers, receive and inspect the items to ensure they meet NAFCO’s standards.
Mr Abradu-Otoo further explained that pricing of commodities is determined by a Price Determination Committee made up of representatives from key stakeholder institutions. These include the Ministry of Food and Agriculture, the Peasant Farmers Association, the Rice Millers Association, and NAFCO itself.
He said the committee relies on extensive research and market data collected from various parts of the country to agree on fair prices.
Once the prices are determined, they are submitted to the Public Procurement Authority (PPA) for review. The PPA either approves the prices or requests adjustments before granting final clearance.
“They give the final authority, and based on that, we announce the prices and proceed,” Mr Abradu-Otoo stated.
He stressed that the entire process is structured to promote transparency, accountability, and strict adherence to procurement regulations, adding that NAFCO is currently focused on effectively managing excess food supply across the country.
