The Food and Beverages Association of Ghana has expressed appreciation for Finance Minister Dr. Cassiel Ato Forson's decision to abolish the 20% excise duty on locally manufactured fruit juices. This move is seen as a significant step towards supporting local fruit juice producers and making them more competitive in the market. The Association's Chairman, Rev. John Awuni, commended Dr. Forson for his responsiveness to industry concerns.
The 20% excise duty on locally manufactured fruit juices was introduced in 2023, which led to increased production costs and made locally manufactured fruit juices less competitive compared to imported alternatives. The Association had campaigned for the removal of the tax for several years, and Dr. Forson's decision has brought relief to fruit juice manufacturers. The policy change is expected to strengthen the local industry and create greater opportunities for the use of locally produced fruits.
Dr. Forson announced the planned abolition of the excise duty during the presentation of the 2026 Mid-Year Budget Review. The commitment has since been reflected in legislation, and the policy takes effect on October 1, 2026, following Parliament's passage of the new Excise Duty Act and presidential assent. This move demonstrates the government's efforts to support local businesses and promote economic growth.
The Food and Beverages Association of Ghana also discussed other industry concerns with Dr. Forson, including food gluts and their impact on farmers. The Finance Minister urged the Association to work with the government to identify practical ways to address these issues and bring relief to farmers. This collaboration aims to find sustainable solutions to the challenges faced by the industry.
Rev. John Awuni thanked Dr. Forson on behalf of the Association, noting that the removal of the excise duty was a bold move that demonstrated the Minister's commitment to supporting local businesses. The Association's Chairman expressed his appreciation for Dr. Forson's willingness to listen to industry concerns and take decisive action.
The abolition of the 20% excise duty on locally manufactured fruit juices is expected to have a positive impact on the local industry. Fruit juice manufacturers will benefit from reduced production costs, making their products more competitive in the market. This move is also expected to promote the use of locally produced fruits, which will have a positive impact on the agricultural sector.
The Food and Beverages Association of Ghana's commendation of Dr. Forson's performance as Finance Minister highlights the positive impact of his policies on the industry. The Association's appreciation for Dr. Forson's decision demonstrates the effectiveness of his leadership and his commitment to supporting local businesses. The government's efforts to promote economic growth and support local industries are expected to continue.
Key points
- The Food and Beverages Association of Ghana commends Finance Minister Dr. Cassiel Ato Forson for abolishing the 20% excise duty on locally manufactured fruit juices.
- The removal of the excise duty is expected to strengthen the local industry and create greater opportunities for the use of locally produced fruits.
- Dr. Forson's decision demonstrates the government's efforts to support local businesses and promote economic growth.
