Indian company Ruchi to acquire land in Ghana for palm plantations

Some are calling it land grabbing, but to others it is investments in agriculture. Vast expanse of Ghana’s land, often fertile land is being acquired by foreign companies from all over the world for variuos projects.

An Indian company, Ruchi Soya Industries, described as India’s top meal and vegetable oil exporter is in line to acquire an unspecified size of land in Ghana to expand its oil palm plantations.

The company plans to buy 15,000 hectares of land abroad for its business.

A company official, Dinesh Shahra was quoted by Indian media saying, “We bought 25,000 hectares recently in Ethiopia. We are also looking for Zambia and Ghana for palm plantation. Buying land in Malaysia or Indonesia is not a lucrative option. Because of higher palm oil prices, palm plantation costs have gone up there.”

Rushi exported about 800,000 tonnes of soy in the 2008/2009 year and intends to export about four million tonnes in the coming year.
By Emmanuel K. Dogbevi