Ghana’s Tomato Processing Industry: An Attractive Investment Option in 2016

Agriculture provides employment to 50% of Africa’s labour and is the main source of income for its rural population, which represents 64% of the total population (Africa Competitiveness Report, 2015). However, the sector is currently characterized by a high percentage of rain-dependent small holder farms (c.80%), cultivating low-yield staple food crops and declining contribution to GDP, primarily due to limited value addition and low productivity.

Post harvest loss across Africa is about 30% (approximately USD 4 billion). The sector’s contribution to GDP is slim, coming in at 15%, according to the World Economic Forum Africa Competitiveness Report, 2015.

Value-added agriculture’s share in GDP comes in at just 11% for sub-Saharan Africa, compared to 30% in ASEAN economies.  It is disappointing that despite its vast resources, Africa’s food staple imports are in the region of USD 25 billion per year. However, this also lays emphasis on the huge economic void for commercial farming and value- added agriculture.

GHANA: Structural Transformation

Ghana has seen a reallocation of economic activity from agriculture into the services sector over the last ten years. Resource allocation, particularly labour, has shifted from agriculture and value-add agriculture and directly into services. Employment in agriculture declined from 62% in 1992 to 42% in 2010; implying that more than half of the country’s workforce, which used to be in agriculture, is gradually shifting from agriculture to the service sector, bypassing the manufacturing sector.

As a result, Ghana’s economic transformation has by-passed manufacturing and moved straight into services. Manufacturing sector contribution to GDP has steadied over the past 6 years, averaging at a 6.25% growth annually. In 2014, manufacturing accounted for just 5.9% of GDP in Ghana. There are reasons for this, chief among them being restrictively high energy charges and operating overheads, low level financing from the financial services sector, comparatively high cost of credit, an infrastructural deficit, and a blind dependence on imports.

Like most of Africa, limited value–addition to primary industries is a drag on the country’s economic progression, and this manifests itself in resource stress, poor economic diversification and unsustainable income growth over the long term.

For example, agricultural value-added share in GDP has decreased remarkably in the past 10 years (from 41.5% in 2004 down to 19.9% in 2014), whereas service sector contribution has increased, accounting for 51.7% of GDP in 2014 (from 49.2% in 2009).

In order to maintain sustainable growth in Ghana, it is essential that the country’s resource allocation is re-balanced, and shifts into manufacturing. This insulates the economy against global commodity price shocks and positively improves the net capital flow as food imports reduce.

Progressive governance, enabling technology, a narrowing infrastructural deficit, and broad strategic initiatives that seek to encourage lending to the primary sector will transform Ghana’s agriculture and agro-processing sector in the medium to long term. One initiative that seeks to steer the course of labour flow back into agriculture and agro-processing is the Youth in Agriculture Programme; a Government of Ghana agricultural sector initiative aimed at encouraging the youth to take up  farming and / or food production as a commercial venture.

We are seeing gradual improvements in these broad areas, and expect the agriculture and agro-processing industries to re-boot over the medium to long term, especially as smart capital moves into large scale agriculture. It is our opinion that production, supply and consumption systems can be scaled up. Near optimal output levels can be expected with the introduction of formalized more efficient management systems in the agriculture and agro-processing space.

Ghana: A Favorable Investment Destination for Agro-Business

Despite its current energy challenges, Ghana ranked number 11 in sub-Saharan Africa (“SSA”) among 47 economies covered in the World Bank 2016 Ease of Doing Business Report and the best business destination in West Africa. Ghana’s growth rate has been forecasted to recover to 5.9% in 2016 (versus 4.6% for SSA; 3.3% World) and 8.2% in 2017 (versus 5.0% for SSA; 3.2% World). Intensified oil and gas production, private sector investment, upgrades in public infrastructure, progressive governance and accountability, and political stability underline these growth projections.

We expect agriculture and agro-processing industry growth to be pegged at +/- 2% of Ghana’s forecasted economic growth, so long as sound, enabling macro-economic and industry level policies are implemented and maintained.

This report seeks to explore the merits of value addition to agricultural commodities, and focuses primarily on the tomato processing industry in Ghana. This is an especially interesting micro segment to analyze because of the following:

o   Ghana is estimated to consume in excess of 100,000 metric tonnes of tomato paste annually at a cost of more than $100 million;

o   A tomato processing factory, set within reach of local farmers, which operates throughout the year has the potential to increase the income of farmers by over five times; and

o   Approximately 90,000 farmers are involved in tomato production, and more than 300,000 individuals are engaged in both retail and wholesale of raw tomato and processed tomato products in Ghana.

o   Ghana has the right topographical and agro-ecological conditions, and one of the biggest agricultural dams in West Africa (the Tono Dam, situated in a tomato farming region, can be used to produce tomato all year round).

Economic Performance

Macro-Economic Overview

Ghana is the second largest economy in West Africa. The country’s economy has grown remarkably over the last decade, achieving peak growth rate of 14.4% in 2011 after oil production went commercial. Ghana’s GDP surged to 0.90% in the second quarter of 2015, compared with the preceding quarter. According to the Ghana Statistical Service, GDP growth rate averaged at 2.13% between 2006 and 2015, hitting a record high of 8.10% in the first quarter of 2012.

Real GDP growth declined to 3.4% in 2015 from 4.0% in 2014 due to the current energy crisis.  Nevertheless, Ghana expects to receive a huge capital inflow of USD 1.5 billion as well as disbursements from development partners before the end of 2015.

Ghana’s economic growth has followed a sensible trend, maintaining a mean yearly growth rate of around 8.0% over the last six years, making Ghana a low middle-income economy in sub-Saharan Africa.

Additionally, the country has made reasonable advancements in poverty reduction, and has worked towards meeting the Millennium Development goal to half poverty rates by 2015; poverty rates in Ghana has reduced from 52% in 1991 to 24% in 2013. However, real GDP growth rate is projected to decline to 3.4% in 2015 from 4% in 2014, due to ongoing energy challenges that have impacted economic output.

Despite satisfactory economic growth in 2014, Ghana’s economy was mired in challenges, notably, a sharp currency depreciation of over 30% in the first 9 months of 2014, worsening power crisis, weak macroeconomic performance, rising interest rates and high inflation (which averaged at 17.0% in 2014). 

The economy was further hit by net capital outflows in June 2015, partially driven by global market volatility. As a result, gross international reserves decreased by USD 1.1 billion, by late Jun 2015, to USD 3.2 billion.

In spite of this, Ghana’s growth rate has been forecasted to recover to 5.9% in 2016 and 8.2% in 2017 on the premise that the power crisis would be dealt with before 2016, and the planned fiscal adjustment, supported by the IMF and other development partners, is not tampered with and remains in line to meet the 2017 objectives. Nonetheless, unpredictable international oil prices could lessen the rate of economic growth in 2016. However, World Bank growth projections for Ghana over the long term remain optimistic and positive, indicating confidence in the country’s future performance.  

Currency Performance

The Ghana Cedi depreciated by 31.2% against the US dollar between January and September 2014. By September 2015, the Ghana Cedi had depreciated by 21% against the US dollar. However, medium term projections estimate a reversal to single digit inflation, and a positive reversal in currency performance.


Consumer prices increased by 17.40% year-on-year in October 2015, similar to the previous month, as more stability in the Ghana Cedi exchange rate lowered import prices.  Compared to October 2014, food prices and non-alcoholic beverage prices rose by 7.8%. Non-food inflation slowed slightly to 23.0% from 23.2% in September. Housing, water, electricity, gas and other fuels went up by 23.1% (+23.6% in September); clothing and footwear rose 24.5% (+24.9% in September) and education increased 28.8% (+29.6% in September). In contrast, prices of recreation and culture increased at a faster rate of 29.9% (+27% in September); transport went up 25.7% (+23.8%) and furnishings rose 24.5% (+23.4%).

On a monthly basis, consumer prices increased 2.7%, compared to a 0.1 percent drop in September 2015. 

Public Debt Management

Increasing domestic arrears presents additional risk to public debt management. According to the Bank of Ghana, the country’s public debt, including both domestic and external debt, hit 58.4billion Ghana Cedis at the end of March 2015.

Large currency depreciation and higher external indebtedness have placed Ghana at a high risk of debt distress. Overall, debt vulnerabilities have increased since the last DSA, where the risk of debt distress was moderate.

However, if planned fiscal policies are implemented, total public debt is projected to decline from 70% in 2014 to 58% of GDP in 2019 (following an initial increase to 72% of GDP in 2015) and 39% in 2034, with total public debt service absorbing around 40 percent of government revenue in the long run.

Fiscal consolidation measures, combined with a more ambitious medium-term adjustment and measures to smooth out principal repayments would greatly reduce the risk of further worsening debt and debt-service indicators. Any sizable deviation from the fiscal consolidation program would stall the projected decline in the public debt path and further increase public debt vulnerabilities. High levels of gross financing need are also worrisome.
Furthermore, the bullet feature of Eurobonds accentuates Ghana’s roll-over risk and its vulnerability to global financial conditions in the medium term.

Ghana’s public debt has steadily increased over the past decade, largely through the issuance of local currency-denominated domestic debt. In addition to large budget financing needs, Ghana’s domestic debt market has doubled relative to its GDP over the past decade. Furthermore, as a rapidly growing frontier market, Ghana has increasingly attracted foreign investors in the domestic debt market since it opened up the market to non-residents in 2006. External debt increased gradually through a series of Eurobond issuances under relatively benign global market conditions. The large increase in external debt (as a percentage of GDP) in 2014 is mainly attributable to marked local currency depreciation

Ease of Doing Business in Ghana  

Despite its recent macro-economic challenges, Ghana still emerged as the best business destination in West Africa and number 11 in sub-Saharan Africa in the World Bank’s 2016 Ease of Doing Business ranking. Ghana ranked 11 among 47 economies covered in the 2016 report, compared to Nigeria (36), Cote d’Ivoire (17), Burkina Faso (143) and Togo (22). This is a vote of confidence in the country’s future potential.

The report highlighted good practices in ten of the areas measured by Doing Business indicators, in which Ghana scored the highest marks compared to Nigeria, Cote d'Ivoire and all other West African countries.

The Case for Agriculture

Ghana is the second most populous country in West Africa. As at January 2015, the country’s estimated population was 27 million, up from the official census figure of 24.2 million in 2010. Annual population growth rate is estimated at 2.19%. The country’s population is expected to grow to over 60 million by 2050.

This rapid increase in population has critical consequences for Ghana’s food security. Currently, approximately 1.2 million people, representing 4% of Ghana’s population are food insecure, with about 2 million people vulnerable to become food insecure. 

Ghana is heavily reliant on food imports, and this continues to impact the country’s accounts. Ghana’s imports for Q1’2015 came in at USD 3332.50 million from USD 3826.50 million in the fourth quarter of 2014. This is very high, given the resource wealth of the country and its vast supply of arable land.

Industry and agriculture together constitute 28.4% of the economy. However, growth in the agricultural sector has been slow (peaked at 5.2% between 2010 and 2014) due to a resource shift into services over the last decade.

Ghana’s agriculture sector contributed 21.5% of Ghana’s GDP in 2014 and 19% as of September 2015, dropping at a shocking rate of 12.8% in seven years (31.8% in 2009 to 19% in 2015). But yet still, agriculture continues to be the largest employer, employing just over 40% of the country’s workforce (about 50% of the population live in rural areas and are mainly dependent on farming).

Ghana attracted agricultural investments worth more than USD 4.23 billion in 2011, representing a 70% increase over the 2010 figure of USD 2.490 billion. However, only 57.6% (7,846,551 hectares) of its 13,628,179 million hectares of arable land is cultivated. The sector remains under tapped, and requires smart management to unleash its full potential.

Ghana currently produces less than 30% of the raw materials needed by its agro-based industries. Agro-processed exports in Ghana alone increased from USD 181.1 million in 2004 to USD 902.5 million in 2011, representing 398% growth (Oduro and Offei, 2013). Further, agro exports accounted for 7.4% of total merchandise export earnings in 2004, plummeting only to 4.9% in 2011.

Ghana’s fast growing middle-class is a ready consumer base for locally-processed foods. But since local food processing remains too small to satisfy local demand, high-value food imports have risen quite considerably, despite government incentives (tax holidays) which have been put in place to promote the local agro and food processing industry.

Fresh Tomato: the Red Gold Creating Wealth

By industry estimates, Ghana produces over 300,000 metric tonnes of tomatoes, 90% of which is consumed locally. Tomato is a staple ingredient in the daily diet of Ghanaians, and accounts for 38.0% of total vegetable expenditure in Ghana. Popular varieties grown in Ghana include Roma VF, Laurano, Raki, Chocó TP, Power Reno, Rasta, Italy Heinz and Petomech, which are mostly suitable for processing.  

The daily demand for tomato products continues to increase across all regions of the country, as it is a dietary staple in every household, hotel and restaurant. With the growth of Ghana’s middle-class, and Ghana’s population increasingly becoming urbanized, consumers have grown an insatiable appetite for convenience foods. As a result, the demand for tomato paste used for the preparation of a broad range of both local and foreign cuisines has increased. This demand for tomato paste (in quantity and quality) is also spreading in the sub-region and could provide a meaningful consumer base for locally-processed tomatoes.

But, unfortunately, the tomato processing industry in Ghana remains small and relies heavily on imports. Ghana is estimated to consume in excess of 100,000 metric tonnes of tomato paste annually at a cost of more than USD 100 million.

A strategically located tomato processing factory that processes tomatoes constantly throughout the year (rather than absorbing seasonal gluts) has the potential to increase the income of farmers over five times. Additionally, over 90,000 farmers are involved in tomato production, and more than 300,000 individuals are engaged in both retail and wholesale of raw tomato and processed tomato products. A study by Clottey et al., 2009 on The Tomato Industry in Northern Ghana concluded that the tomato industry in northern Ghana alone had the potential to be competitive and stimulate the creation of a host of related and supporting enterprises with prospects for wealth creation.

Tomato production in the Upper East region of Ghana alone employs about 11,728 farming families with an average family size of 5 persons. It is estimated that 58,640 persons benefit from its production as noted in a survey report by Trade Aid Integrated.

According to the Ghana National Tomato Producers’ Federation, Ghana produces 510,000 metric tonnes of tomato each year, while it imports up to 7,000 tonnes per month from its neighbors, alongside 27,000 tonnes of processed tomato from Europe.

Ghana has the right topographical and agro-ecological conditions, and also has one of the biggest agricultural dams in West Africa (the Tono Dam, situated in a tomato farming region, can be used to produce tomato all year round).

Despite this, the country seems increasingly incapable of producing enough canned tomato products. Statistics in 2006 have showed that Ghana was the second largest importer of tomato paste, only second to Germany, consuming an average of 25,000 tonnes of tomato paste in a year at a total cost of about $25 million dollars (Aryeetey, 2006).

The scarcity and high cost of tomato during the dry and minor seasons in Ghana is what accounts for the excessive imports of tomato paste and products into the country. For instance, industry data suggests that total production of tomato doubled between the 1970s/80s and the 1990s, but slid from 100,000 tonnes per year to around 50,000 tonnes per year in the 1970s and early 1980s respectively. Then in the late 1980s, production reverted back to around 100,000 tonnes, and expanded during the 1990s, averaging around 200,000 tonnes per year by the end of the decade. Notwithstanding this fact, during the 2000s, production fell gradually.

Currently, approximately 321,000 metric tonnes of tomatoes are cultivated annually, valued at USD 118 million, whilst 75,000 metric tonnes is imported annually to augment the shortfall.  This short fall necessitated the importation of processed tomato worth USD 112.1 million in 2013 alone according to the Ministry Of Food and Agriculture. Also, despite this shortfall, farmers are still experiencing gluts and high post-harvest losses during major raining seasons. Out of over 510,000 metric tonnes of fresh tomato produced annually in Ghana, the country loses about 153,000 metric tonnes, representing about 30% of the entire year’s produce.

Tomato Paste Industry: Ghana’s Neglected Goldmine

In the early 1960s, the Government of Ghana set up two tomato processing plants; the TOMACAN and the Pwalugu Tomato Processing factories.  According to Robinson and Kolavalli, 2010, during the 1980s, both factories collapsed due to a mixture of structural reforms promoted by the World Bank and IMF; frequent breakdowns resulting from a lack of spare parts and obsolete machinery; lack of technical competence and financial management; and poor marketing. This resulted in the closure of these factories. The Government of Ghana has since made several attempts to revamp these factories into large scale tomato processing plants but to no avail. President John Dramani Mahama’s recent visit to the tomato district in Parma, Italy was an attempt to draw large scale tomato processors into Ghana.

The Pwalugu Factory was re-opened, and started running in March 2007, through a PPP agreement between the government and Northern Star Tomato Company (“NSTC”). The factory has the capacity to process 500 metric tonnes of tomatoes into puree, which is five times greater than the old processing capacity. The NSTC processes the puree for Trusty Foods Limited, an Italian subsidiary located at Tema which adds value and exports the product to the West African sub-region and the European Union.

The TOMACAN factory in Wenchi was also revamped in recent times under a PPP agreement between the government and the German Technical Cooperation (“GTZ”), Unilever Ghana Limited (“Unilever”) and Afrique Link Limited (“ALL”, “Afrique Link”). In the agreement, ALL acquired shares through a debt equity swap and was to be in charge of processing tomato paste and pulp, whilst Unilever was to package it into the TOMAROMA brand of tomato paste, market, distribute and sell the tomato paste in addition to assisting Afrique Link market its tomato pulp through a distribution system. GTZ and the government, through the District Agricultural Development Units (“DADU”) of the Ministry of Agriculture were also tasked with assisting the farmers in cultivating tomatoes to supply the factory in Wenchi.

GTZ contributed €200,000 for the project’s management and technical assistance to the farmers. One half of the GTZ contribution was used to finance the acquisition of 8% shares in ALL on behalf of the farmers through a Farmers Trust formed for the purpose. ALL and Unilever also contributed a minimum of €200,000 to be used mainly in the execution of their part of the project. In addition, ALL and Unilever were to finance other costs related to their operations in excess of the €200,000 already contributed.

Variety trials were undertaken, farmer-based organizations (“FBOs”) formed, and protocols developed to achieve yields of 20 tonnes per hectare. Financing was arranged for the farmers through Agricultural Development Bank (“ADB”). ALL also provided inputs to support production to some farmers, especially those in the Dormaa District who were refused credit because of concerns over side selling to nearby Cote D’Ivoire. ALL guaranteed all the loans to the FBOs.

In 2014, Techiman Processing Complex, an agro processing company, through a PPP agreement with the government of Ghana and a GHS 200,000 financial support from the Export Development and Agricultural Investment Fund (“EDAIF”) established a tomato processing factory. The plant had halted operations for some time due to lack of raw materials for production. According to TEPCOs CEO, the company is still in the process of sourcing extra financing for its operations.

According to the FAO, Ghana has a total processing capacity of 1400 tonnes of fresh tomato per day (500 tonnes at Trusty Foods and Northern Star, 200 tons at Afrique Link Ltd in Wenchi and TEPCO in Techiman). If these three tomato processors were even operational at full capacity, they would be able to process 438,000 tonnes of fresh tomato, the equivalent of 54,750 tonnes of tomato paste each year (assuming a paste of 36-38% brix, requiring 8 tonnes of fresh tomato per tonne of paste), which is still a deficit to the annual demand of tomato paste in Ghana (in excess of 100,000 tonnes a year).

Government Incentives for Agro-Processors

Investors targeting the tomato processing segment will be able to explore certain incentive schemes put in place by the Government of Ghana to make the agro-processing sector of the economy more attractive. These include tax holidays for industries in agriculture and agro-processing and relatively much lower taxes for factories located in the hinterland.

Tax Incentives under Export

A corporate tax rebate allows any manufacturer or any person engaged in agricultural production, exporting part or all of his production, to claim tax rebates of between 40% and 75% of his/her tax liability.
A Custom Duty Drawback also allows exporters to draw back up to 100% of duties paid on material imported to produce goods for export.

Transferability of Capital, Profits and Dividends

Subject to the Foreign Exchange Act, 2006 (Act 723) and the regulations and notices issued under the Foreign Exchange Act, an enterprise shall, through an authorized dealer bank, be guaranteed unconditional transferability in freely convertible currency of dividends or net profits attributable to the investment made in the enterprise. This allows for the full repatriation of earnings in the currency of investment.

Double Taxation Agreements

Ghana also uses Double Taxation Agreements to rationalize tax obligations of investors who come from global tax sourced jurisdictions with a view to saving the investors the incidence of double taxation.

Investment Incentives for Agribusiness

The Ghana Investment Promotion Centre offers a range of incentives for agribusiness investors establishing production and/or processing enterprises in the country. These include, but are not limited to:

o   a five-year tax holiday for agro-processing businesses, from the date of commencement of business;

o   custom duty exemptions for agricultural and industrial machinery and equipment imported for investment purposes; and

o   location-based tax rebates for manufacturing industries located in regional capitals

Tax Incentives under Venture Capital Fund

The government of Ghana has also announced an enhancement of the tax incentives for venture capital finance companies who participate in the scheme announced in the 2006 budget statement as follows:

o   the five -year full exemption from corporate income tax, dividend tax and capital gains tax for eligible venture capital finance companies has been extended to 10 years;

o   the 100% chargeable income deduction granted to financial institutions investing in venture capital finance companies has been expanded to include all corporate and individual investors who invest in venture capital financing companies;

o   distribution of interest, dividend and capital gains to investors in venture capital finance companies are tax exempt.

Free Zones Act, 1995

Additional incentives have been packaged into the Free Zone Act of 1995 for parties interested in developing and operating export processing zones (EPZs). These include: 

o   Complete exemption from payment of direct/ indirect duties and levies on all imports for production purposes and exports from the Free Zones; 

o   Complete exemption from payment of income tax on profits for a period of 10 years (the income tax rate after 10 years shall not exceed 8%);

o   Complete exemption from payment of dividend taxes arising out of Free Zone investments;

o   No import licensing requirements;

o   100% ownership of shares in the business entity by any investor;

o   No conditions or restrictions on the repatriation of dividends or net profits.

Government Policy Supporting Agro-Processing

Ghana Trade Policy

This policy is set within the context of Ghana’s long term strategic vision of achieving middle income status and becoming a leading agro-industrial country in Africa. The policy provides clear and transparent guidelines for the implementation of government’s domestic and international trade agenda.

The government’s trade policy, under the  sectoral development of the agro-processing industry, stipulates that the expansion and diversification of production of goods and services are necessary to develop sufficient trade capacity to take advantage of export market opportunities and satisfy domestic market requirements. It further emphasizes that agriculture is by far the most important sector of Ghana’s economy upon which most Ghanaians depend, and that agro-processing will play a central role in the diversification of Ghana’s economy.

The policy’s objective is to support diversification and stimulate productive investment and trade in the agro-industry, and further directs that the government specifically target the agricultural sector in the area of agro-processing, provision of basic foodstuff for the domestic market, and improving competitiveness through economies of scale production and improved technology.

Risk Analysis

Tomato processors; Trusty Foods, which sources most of its tomato from farmers in the Upper East Region of Ghana paid each farmer an average amount of GHS 154 per tonne. This is below the price at which farmers sell to fresh tomato sellers.

Interestingly, Trusty Foods offers the highest price than any other tomato processor in Ghana, and this does not even meet the price at which fresh tomato sellers are willing to pay for a crate of tomatoes from the farmers, hence compelling the farmers, (who encounter high cost of production and sometimes difficulty in obtaining credit) to sell to fresh tomato sellers for profit, making it difficult for local tomato processors to compete with imported tomato paste, which comes in at a lower price to the local option.

Farmers mostly supply tomato factories during the peak period, when the pre-agreed processor price is higher than the fresh market price, but eventually divert to the fresh market price, as tomato becomes scarce during the dry season and the price for fresh tomatoes increase above the processor price.

In 2008, the Pwalugu Tomato factory for instance, encouraged farmers to increase tomato production to supply the factory. The factories were willing to buy at GHs 15 per crate of 110 kg, but the tomato traders were willing to buy at twice this price, and, as expected, tomatoes were sold to traders.

When farmers were eventually ready and willing to deliver on their contracts to the Pwalugu Factory, Pwalugu had logistics issues, including insufficient crates for collecting tomatoes, insufficient transport facilities, and lack of cash to pay the farmers. Additionally, the relationship between farmers and processors had been affected by the aforementioned issues, and the little trust between farmers and processors waned after this experience. Subsequently, Pwalugu shut down again in 2008.

In 2003, HEINZ, which was contemplating purchasing the Pwalugu Factory abandoned the deal after its due diligence showed that it could not purchase tomato at economically low prices from the farmers to be profitable.

For tomato processing to be competitive in Ghana, the average per unit production cost needs to be sufficiently lower so that farmers can sell their tomatoes profitably and at low but guaranteed prices offered by processors. This will enable domestic tomato processors to compete favorably with Italian and Chinese tomato paste processors whose production costs are comparatively lower, hence their cheaper prices on the Ghanaian market.

Other processing challenges include the fact that farmers are unable to supply the factories with a sustainable flow of processing tomatoes such as H 3044 and H7151, which were the tomato varieties evaluated by H.J. Heinz Co. International in Ghana, and found to be both high yielding and excellent for processing.  In 2014, the TEPCO tomato processing plant in Ghana had to stop operations due to the non-availability of tomatoes to ensure profitable and sustainable operations.

One of the causes of major costs involved in running a factory in Ghana is due to unreliable power supply from Ghana’s national electricity grid. Most industries in Ghana rely significantly on alternative energy supply, which has also led to the development of other related energy industries like diesel and biogas- fueled generators which are more reliable and cost-effective compared with the supply from the national grid.

The Irony: Imported tomato paste is more expensive than locally processed tomato paste in Ghana

Market analysis on the Ghanaian tomato paste industry shows that there are several tomato paste brands on the Ghanaian market, most of which originate from Europe and China. Key tomato paste companies include: Conserveria Africana, which produces the GINO and POMO brands of tomato paste; Olam, which produces Tasty Tom; Trusty Foods, which produces LA BIANCA tomato paste; and Centro Esportazione Conservati, which imports SALSA from Italy. Tomato paste imports currently amount to over 78,000 tonnes of paste per year, 12,000 tonnes of which are exported after repackaging.

In Ghana’s tomato paste retail market, the 210 gram tin tomato paste is the most popular. Interestingly, LA BIANCA tomato paste, which is produced by Northern Star and packaged for marketing by Trusty Foods locally, is sold at a cheaper rate on the Ghanaian market, compared with SALSA tomato paste which is imported from Italy, and is the most expensive tomato paste product on the Ghanaian market.

Additionally, Tasty Tom, GINO (GINO Tomato paste is the highest selling tomato paste on the Ghanaian market) and POMO, which are imported and repackaged in Ghana for retail, have higher prices on the Ghanaian market as compared with the locally produced tomato paste LA BIANCA. This is because the GINO brand of tomato paste for instance, has invested significantly in marketing and packaging. A study by NIELSON on Ghanaian consumers discovered that Ghanaian consumers express a higher preference to buy brands that are advertised, available on promotion, possess attractive packaging and come in both small and bulk pack sizes.

This goes on to show that despite the high cost of production involved in tomato paste production in Ghana, the locally produced brands are sold at an averagely lower price, compared with the imported and repackaged ones, and also, most Ghanaian consumers show more preference to quality and well-advertised brands regardless of the price.

Import charges on foreign products have risen to an all-time high recently, resulting in the spike in tomato paste prices on the Ghanaian market and rendering imported brands more expensive than locally-produced tomato paste. This means that the marginal cost of paying above-the standard market prices for tomato paste produced in Ghana is lower than the marginal cost of importing tomato paste into the country, thus allowing locally-processed tomato to keep its gross margin at the minimum required to cover the cost of raw material inputs, operating costs and overheads, and to turn a reasonable profit

Causes of the High Cost of Imports in Ghana

The growing middle-income bracket (about 5 per cent of the population) could provide a significant consumer base for locally-processed foods. But as local food processing remains too small to meet local demand, high-value food imports have been increasing (Wolter, 2008).

In 2013, Ghana exported USD 18.8 billion and imported USD 15.4 billion resulting in a positive trade balance of 3.39 billion. These exports are led by gold, which represents 29.6% of the total exports from Ghana, followed by cocoa beans, which account for 26.8%.
Imports decreased to USD 3332.50 million in the first quarter of 2015 (from USD 3826.50 million in the fourth quarter of 2014).

The causes of the gradual reduction in Ghana’s imports is reinforced by Nana Kwame Akosah, 2014 in his literary work titled Macroeconomic Implications Of High Import Demand In Ghana, where he observed that, Ghana’s import demand is currently inelastic and it is difficult for the domestic economy to control the level of imports, which implies that the economy ends up spending more when exchange rate depreciates, causing the trade balance to worsen in the short run. He further noted that the depreciating domestic currency increases the cost of imports, as traders then require more of the domestic currency to import the same quantity of goods. The higher cost of imports is then passed on to the consumers in the form of higher prices for goods.

Imports into Ghana were thus artificially compressed by the continued depreciation of the Ghana Cedi. In May 2014, total imports came in 17.8% lower compared with the same period in 2013.

These conditions present an opportunity for Ghana to reduce its dependency on imported tomato paste, which is a dietary staple in Ghanaian cuisines. It also presents a fine opportunity to local manufacturers of tomato paste given the strong demand for tomato paste in Ghana. The Indian company, Conserveria Africana Ghana Limited, in a bid to cut down on the high cost of tomato paste imports, established a USD 12.5 million (with over USD 25 million budget outlay) tomato factory with the capacity to produce 25,000 metric tonnes of tomato paste annually. According to its managing director, this move will help Ghana save more than $100 million in foreign exchange.

Italian Tomato Paste Imports Dwindling Due to high cost of imports

Italy is one of the largest exporters of tomato paste to Ghana (Ghana is the eighth-largest buyer of Italian paste from Italy). However, Italian tomato paste delivery to Ghana is shrinking gradually. According to an article by Agra-net in 2015, Italian tomato paste deliveries to Ghana peaked in 2012 at 28,898 tonnes. Exports then slumped by 10,000 tonnes in 2013, and dropped further to 6,321 tonnes in 2014. Shipment to the African continent was close to or above 20,000 tonnes in recent years, and over 30,000 in 2004. Deliveries in YTD 2015 show a strong decrease against previous years. At 1,721 tonnes between January 2015 and April 2015 shipments were down 71% in 2014 and 84% in 2013. High import costs partially account for the reduction into Ghana.


A core objective for any investor who wants to invest in the tomato processing industry should be:

o   to focus mainly on improving livelihoods and generating long term sustainable income for local farmers and the communities where they operate; 

o   to provide training and support that will help farmers improve farming practices; and

o   to give competitive, guaranteed minimum prices through contracts with farmers, assuring them that their produce will be bought, in spite of seasonal fluctuations in market prices.
The above can be achieved by incorporating headline Millennium Development Goal principles into its operations.

To guarantee constant supply at competitive rates and manage costs, the transport of raw materials from farm to production site should be managed efficiently. One area of focus could be to build an entire industry around post-harvest loss management or create a formal sector out of what is already in place, not just for tomatoes, but for all primary produce, which will gradually revive value-added agriculture contribution to GDP.

Additionally, at least 60% of tomatoes used for paste production should be produced mainly from farmlands operated by the investor, or on contract farming basis, whilst 40% raw materials will be sourced from local farmers. This type of farming model is termed as nucleus contract farming, and is popular with the American and Chinese tomato processing industries. This model will ensure that there is always a constant supply of raw materials to the factory and lessens any unpredictability when tomato prices soar during off seasons.

Farmers should also be given incentives on the amount of yield they supply to the factory at any given time, in order to motivate them to keep supplying the factory. For instance, farmers need to be given targets to meet, and if any farmer is able to supply or meet that yield target, they can be awarded with a farm truck.

Despite the usual agronomic challenges and manageable operational and economic risks, the local processing of tomatoes has shown enormous potential to be profitable. Locally-produced paste can compete with imported brands where the right pricing structures for sourcing raw materials from farmers have been introduced.

Government incentives that protect the segment from controllable shocks, a culture of high quality standards, and effective marketing and distribution strategies, can open up the segment, making it another viable contributor to national output.

Cited Works

 Akosah, N. K. (2014) Macroeconomic Implications of High Import Demand In Ghana.  US Open Economics Journal Vol. 1, No. 1, pp. 1 – 31.

Aryeetey, E. (2006) ISSER-Merchant Bank Development Seminar Series. [Online] Available from: [Accessed 25 November 2015].

Auvillain, M. and Liberti, S. (2014) The Dark Side of Italian Tomato. Aljazeera [Online] Available from: [Accessed 29 November 2015].

Clottey, V. A., Karbo N., and Gyasi, K., O. (2009) The Tomato Industry in Northern Ghana: Production Constraints And Strategies To Improve Competitiveness. African Journal of Food Agriculture Nutrition and Development. 9(6): 1436-1451.

Ghana Investment Promotion Center (2015) Investing in Ghana's Agricultural & Agro-Processing Industry. [Online] Available from: [Accessed 15 November 2015] Ghana: GIPC.

Ghana Statistical Service (2015) Revised Gross Domestic Product 2014. [Online] Available from: [Accessed 5 December 2015].

Ghilotti, D. (2015) Ghana's authorities visit tomato plants in Parma. Agra-net, Food News. [Online]. Available from: [Accessed 25 November 2015].

Glover, B. Lack of market worries Upper East tomato farmers. The Daily Graphic of 26 March, 2007a; 150007: 28.

International Monetary Fund (2015) Ghana Request for a Three-Year Arrangement Under The Extended Credit Facility—Debt Sustainability Analysis. [Online] Available from: [Accessed 1 December 2015]

Issah, M. (2007) Right To Food Of Tomato And Poultry Farmers. [Online] Available from: [Accessed 30 November 2015]

Minister of Trade and Industry (2006) Ghana Trade Policy. MoTI: Ghana

Ministry of Food and Agriculture (2013) Food Security Situation in Ghana. [Online] Available from: [Accessed 30 November 2015] Ghana: MOFA.

Ministry of Food and Agriculture (2011).  Agriculture in Ghana, Facts And Figures. MoTI: Ghana

Nielson (2014) Nielsen Emerging Market Insights, Country Snapshot Ghana. [Online]. Available from: [Accessed 6 December 2015].

Oduro, A. D. and Offei, E. L. (2014) Investigating Ghana’s Revealed Comparative Advantage in Agro-Processed Products. Modern Economy, 2014, 5, 384-390 Published Online April 2014.

Okudzeto, E., Mariki, W. A., Senu, S. S., Lal R. (2015) Africa Economic Outlook (Ghana). AfDB, OECD, UNDP (2015).

Parma for Expo (2015) Our city welcomes the President of the Republic of Ghana. Press Release 18 July 2015. [Online]. Available from: [Accessed 27 November 2015] Parma, Italy.

Robinson, E. J. Z. and Kolavalli, L. S. (2010) The Case of Tomato in Ghana: Productivity Ghana Strategy Support Program (GSSP). GSSP Working Paper No. 19.

Saavedra Y., Dijkxhoorn, Y., Elings, A., Glover-Tay , J., Koomen I., Maden E., Nkansah G. and Obeng, P. (2014) Vegetables Business Opportunities in Ghana.

Tampoare G. B., Bob – Milliar, G. K.  and Adazabra A. N. (2012) Analyzing the Economic Benefit of Fresh Tomato Production at the Tono Irrigation Scheme in Upper East Region of Ghana. Journal of Economics and Sustainable Development. ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online) Vol.3, No.13, 2012.

Techiman Tomato Factory Starts Production (2014).  Ghana Web.  Available from:  [Accessed 27 November 2015].

The World Bank (2015) Agriculture, value added (% of GDP). [Online] Available from: [Accessed 5 December 2015].

The World Bank (2015) Employment in agriculture (% of total employment). [Online] Available from: [Accessed 5 December 2015].

The World Bank (2015) Ease of Doing Business in Ghana. [Online] Available from: [Accessed 1 December 2015]

The World Bank (2015) Ease of Doing Business in Nigeria. [Online] Available from: [Accessed 1 December 2015].

The World Bank (2015) Ghana (Overview). [Online] Available from: [Accessed 1 December 2015]
Wolter, D. (2008) Ghana – Seizing New Agribusiness Opportunities, OECD Development Centre: Paris.

World Economic Forum (2015) Africa Competitiveness Report, (2015). [Online] Available from: [Accessed 5 December 2015].

About the authors

Bernard Boachie-Danquah and Isma-il Sulaiman are both Principals at Goodman AMC in Accra, Ghana.

Address: P. O Box AF 1732, Adenta-Accra, Ghana.
© Goodman AMC LLC 2013-2015. All rights reserved.


  1. Hello,

    If you want to start making money on tomato farming business, you can use this website company to generate steady money incomes of over $500 daily to backup your tomato farming business online.

    You can start making incomes profits of $100, $500, $1000 from virta stock trading to backup your tomato farming business without you risking your money online and it is 100% profits making guarantee.


    You buy your virta stock from this modern company platform at virta stock current market price and You will receive the next sales price you will use to sell your virta stock when the virta stock market price have risen up to meetup with your selling price in your trading account.

    Once the virta stock market price have rise up to meetup with your selling sales price in your trading account, you will sell your virta stock at the market price and make your instant profit.


    You can withdraw your profit daily from a minimum of $1 and above.


    Virta stock trading does not involve risk trading where traders need to trade with either to loss or gain.

    All you do is to sell your virta stock and make your instant profits.

    I make my every day profits incomes of $100 from the buying and the selling of virta stock as my extra source of incomes to my bitcoin wallet every day.

    I recommend this trading platform for you as your alternative source of incomes making.

    Visit and register with the company website here and test their platform with just $1 and see how it work great for profits incomes making online.

  2. The entire business report like the risk analysis, economic helps a lot. As one of the Wholesale Pasta Sauce Manufacturing Companies it may helps for our business too.

  3. Accra has become the a lot of attractive places with The african continent to arrive at. Accra is definitely investment urban center with Ghana news.

  4. What are the Brilliance SF quality features?

    As indicated by the supplier, Brilliance SF has been dermatologically tried. Moreover, there is an assessment which expresses that the vast majority of ladies had the option to accomplish more youthful looking skin because of utilizing Brilliance SF. An aggregate of 83 percent expressed that the skin was better saturated after application. Around 78 percent of the clients likewise portray a decrease in scarce differences andwrinkles, while 64 percent additionally watched an improveme

  5. What is Okinawa Flat Belly Tonic?

    Mike Banner launches OKINAWA FLAT BELLY TONIC to reduce weight the safest way and achieve desired goal. This tonic is a complete fat burner and is proven to not only burn fat successfully but control high blood pressure, cholesterol level and regulates blood glucose level.

  6. Okinawa Flat Belly Tonic is a functioning weight reduction supplement in type of powder zeroed in on consuming the body's difficult fat stockpiles by expanding the metabolic rate and amplifying the general weight reduction measure by lessening the irritation through its well-informed all-natural recipe and produces ensured results with zero results.

  7. How to use it?
    This product is easy to use and does not require a large quantity to put on. You have to take a pea-sized quantity to put on all over your skin. Not like the other product who distinguishes between the body and face to not put the same product on your face or not onto your body. Derma skin works perfectly and equally on each n every part of your body. Treats and heal the damaged skin and you will see the result within the six hours of applying. It is a liquid formula and it does not cause the pain of applying. Derma Correct is not a scam.


  8. Whatis MagnumXT:

    The Magnum XT could be a preminum, natural male sweetening dietary supplemwnt specially created to spice up your stamina and your androgenic hormone. If you are having issuesu within the sack, Magnum XT will faciliate up restore your sexual performance, providing instant appetence to properly satisfy your partner’s each want. No a lot of sexual dysfunctions aund low stamina however an intense and joyful sex life on your and one.

  9. Promind Complex is a cerebrum boosting supplement which intended to assist individuals with forestalling cognitive decline. In basic we can say it is an enhancement which holds your memory from losing your recollections. It incorporates the normal fixings which reestablish the strength of your cerebrum and backing to recover your memory back. It additionally contains cerebrum animating fixings to improve start execution, destroy the negative sentiments, tension, persistent desolate state of mind and other humiliating "Senior Moments" astutely.

  10. Vigrx plus plus is an superb proprietary combo of decided on ingredients which boom the Testosterone universal overall performance of males obviously. There are no danger or side effects reported yet on the same time it additionally boosts your muscle companies with great energy because of this make you feel mightier. It burns extra amount of fat in a lot much less time therefore shapes your body very efficiently.

  11. What is Magnum XT?

    This expansion to the changes, made by Drs. Adrian Miller, this will assist men with developing and build up their PE to locate the most fulfilling sexual associations with their accomplices, making them more alluring to the other gender and feel more sure about them. Magnum XT tablets will help men increment their PEes size utilizing a deductively demonstrated and protected and normal strategy. Anybody can profit by this new sponsorship.

  12. What is the bitcoin era?

    It is a type of software that is robotic in nature and also analyses markets on the basis of traders. If you want to use the application you must know how to buy and sell orders. It is an effective application and has a very simple interface and is easy to use and helps the users to gain profit rapidly.

  13. What is Bitcoin Loophole?

    Bitcoin loophole is robotic AI-based trading software that sudden spikes for demand for benefit of merchants to execute purchasing and selling decisions by dissecting the imperativeness of crypto and predicts beneficial trading results for its clients in the wake of assessing. There is no such earlier trading experience or specialized information needed to utilize this application.

  14. Concerning the sexual performance, there are several dietary supplements in that market that claim to provide long term results to achieve optimal sex drive. In order for you to choose the one best male enhancement pill we have shared some of the best dietary supplements that do not have any side effects.

  15. Magnum XT is a sexual wellbeing supplement for men; the recipe depends on normal fixings that help to alter the sexual coexistence by adding staggering development to PE, durable erections, and extreme climaxes. This equation is made to battle every one of the reasons that cause inconveniences and erectile brokenness in arriving at an enthusiastic sexual coexistence.

  16. StrictionD is the natural supplement which is combined with herbal ingredients, such as Ceylon Cinnamon with modern high technology components like the purified form of chromium to support normal glucose metabolism. In addition to maintaining normal insulin and blood sugar levels, the supplement ingredients blend provides a weight loss effect. If you want to take care of your glucose numbers StrictionD is ready to help you. This incredible natural supplement can revive your body naturally with an emphasis on crab’s metabolism.

  17. Bitcoin loophole is a software made using computer algorithms and trained to make the best cryptocurrency trading decisions. Thriving tradable insights from the crypto market to analyze the data and make the right trading decisions is something the software is highly prepared for.

  18. Bitcoin trader is a highly profitable award-winning cryptocurrency app that is designed to help traders learn, practice, and earn by utilizing its AI intelligence. This smart trading app is based on a real-time basis, which assists to make a decision based on the current status of the financial or cryptocurrency market and global finance decisions. It has easy-to-use features made with the intention to serve newbies or amateur traders.

  19. This software doesn’t hide any charges or tax and the withdrawals process very quickly, and the accuracy of the trading is very precise. Not only this, through the course of this article, you will also find out some other great qualities on all the other reviews as well too that will prove to this software’s

  20. Floraspring keeps the arrangement of fat cells and upgrades the improvement of microorganisms and decreases the action of alpha-amylase that hinders and wiping out undesirable weight acquire in a sound methodology. It is additionally viewed as a carb blocker for engrossing it and controlling the plasma glucose levels to additionally improves gut wellbeing.

  21. What is One Shot Keto Pill?
    One Shot Keto is a dietary weight loss supplement that is designed using naturally occurring ingredients to help get the optimal number of ketone bodies in the blood. It is free from chemical or synthetic ingredients; to aid the body to naturally yet quickly achieve the state of ketosis which will make the body shed excess fat at a much faster rate without compromising the health and energy of the body.

  22. What is StrictionD?
    StrictionD is a supplement in the form of pills comprised of all potent ingredients; aids for ready for the treatment and control of diabetes. High blood glucose can cause severe effects on health in case it's not correctly managed. Strictiond is a solution that could help the entire body gets all the required nutrients and minerals. Insulin aids in the metabolic process of blood glucose; the continuous use of Strictiond ensures the production of insulin as necessary by the body.

  23. If you are facing a skin-related problem such as uneven skin tone, blemishes, acne marks, spots, discoloration, or skin tags then it could be due to many reasons which cannot be avoided easily. Mostly the reasons include the environment we live in, bacteria, sun rays, reaction or allergy to any food or medicine. The blemished skin spoils the overall appearance and shatters the confidence.

    READ MORE Ghana


  25. Striction BP is composed of all-natural ingredients Ceylon Cinnamon, Magnesium malate and Vitamin B6. It is free from artificial chemicals and additives that can be potentially harmful to the health. The following ingredients are not only effective to cure the suggested health issues and illnesses but are also provide essential nutrients necessary for the healthy mechanism of the body.

  26. Skin cell master is a synthetic free, market driving totally natural serum that is advanced with plant cancer prevention agent and minerals. It is produced to focus on the labels, moles, dim fixes alongside dead tissue effortlessly.

  27. Skin cell professional is a compound free, market driving totally natural serum that is improved with organic cancer prevention agent and minerals. It is produced to focus on the labels, moles, dull fixes alongside dead tissue effortlessly.

    The all-normal recipe additionally reinforces the skin by conveying proper regular precipitation and flexibility to the skin. Ugliest skin moles and bothersome imperfections can be dispensed with and adequate skin improvement will be accomplished whenever utilized satisfactorily. All things considered, skin cell conveys a durable skin medicine for individuals with so many skin issues.

  28. What is Bitcoin Loophole?
    Bitcoin Loophole is an AI based crypto currency trading platform; that analyze the crypt trends in thetrading markets on behalf of traders and executes trading transactions accordingle. It is created by the professionals who are the already experts in the field of crypto trading to provide an automated trading platform that is free from errors and glitches.


  29. This particular Sonus Complete research review is compiled with the utmost care and due diligence. Nothing can justify the amount of evidence, information, and reports that come with my Sonus Complete review. Does Sonus Complete work? And if so, how does it work? Here, you will find everything about Sonus Complete and Tinnitus.
    Sonus Complete Review

  30. Acid reflux is a very dangerous disease. It generally occurs when the stomach and LES move above the diaphragm. The job of LES is to close up when food passes through. But when it doesn’t, then the acid produced by the stomach breaches and reaches the esophagus.

  31. Livingwell Nutraceuticals Heal-n-Soothe Healthy Enzymes - Powerful natural anti-inflammatory combines pain-relieving ingredients & is designed to deliver maximum natural pain relief.
    Heal n Soothe Review

  32. Many of us face difficulty while sleeping. We need to sleep at least 5 hours a day to stay healthy and active. But many factors prevent us from getting a good night’s sleep. Work-related stress, overthinking, or health conditions can keep us awake all night. Things have gotten much worse in the modern era as everyone is glued to their smartphones and PCs.
    Zoey Sleep Pillows Reviews

  33. Keto Advanced 1500 is a well known weight reduction pills available, and this is a result of its restrictive mix of fixings. Keto Advanced 1500 Reviews
    , with its normal fat-consuming fixings, assists you with getting into ketosis and in this way shed pounds quicker.

    In case you're searching for a weight reduction arrangement, this Keto Advanced 1500 survey can be the appropriate response you've been looking for. A huge number of grown-ups have utilized this item without encountering any bad incidental effects. In a one-year concentrate with in excess of 1,000 members, Keto Advanced 1500 has assisted its clients with getting in shape and lower their BMI. Pound-for-pound, it is quite possibly the most remarkable weight reduction items on the planet.

    In this Keto Advanced 1500 survey, we will realize how this regular enhancement is assisting individuals with accomplishing weight reduction objectives and wanted BMI. You will realize what stores convey Keto Advanced 1500. Does it have negative incidental effects, or does Keto Advanced 1500 truly work? Is Keto Advanced 1500 any great? Provided that this is true, who sells Keto Advanced, all things considered
    Keto Advanced 1500

  34. Bitcoin Revolution is an innovative cryptocurrency trading application that was created for people who have just entered the market and are trying to gain profit from virtual currencies. Trading Bonds for potentially profitable trades is generated using the latest cryptocurrency trading technology and results in a trading advantage, giving traders an upper hand to make informed decisions.



  35. VigRX Plus is apotent male upgrade item that is made out of all-regular fixings including extricates from natural and therapeutic plants to help sexual execution, improve drive, and incite want. However the dietary enhancement is a lot of well known as pills; anyway you can utilize Vigrx Plus cream for penis expansion and fortifying your erection.


  36. VigRX Plus is apotent male upgrade item that is made out of all-regular fixings including extricates from natural and therapeutic plants to help sexual execution, improve drive, and incite want. However the dietary enhancement is a lot of well known as pills; anyway you can utilize Vigrx Plus cream for penis expansion and fortifying your erection.

  37. Heal n Soothe is a doctor-formulated anti-inflammatory joint pain relief supplement. Today, Living Well Nutraceuticals, in collaboration with Healthy Back Institute-an accredited medical team, is the sole proprietor of the formula. This supplement can improve pain, muscle stiffness, and soothe inflammatory back pain.
    Heal n Soothe

  38. Night Slim Pro is a weight reduction supplement known to assist you with unwinding and decrease tummy fat. The all regular weight reduction supplements Night Slim Pro packs are produced in the USA under sterile conditions in FDA and GMP controlled workplaces.

  39. Night Slim Pro is a weight reduction supplement known to assist you with unwinding and decrease paunch fat. The all regular weight reduction supplements Night Slim Pro sacks are fabricated in the USA under sterile conditions in FDA and GMP controlled workplaces. Our protected, non-GMO additives are made with 100% unadulterated stabilizers.

  40. It is the most well-known opportunity to the best time to visit death valley. Other than warm and bright days, the chance of spring wildflowers


  41. Here we will discuss Magnum XT, the naturally made supplement that is specifically made to raise the testosterone levels and strengthen the libido of the person using it. In this Magnum XT reviews, we will see how Magnum XT is an extraordinary male improvement supplement for all; it doesn’t matter if you’re a 20-year-old or a 60-year-old. If you are facing male sexual problems, then the Magnum XT pill is the supplement for you.

  42. Smart Blood Sugar is a diabetes guide and program in which the doctor reveals a natural solution to stay healthy. In the Smart Blood Sugar program, she also shows the 60-second trick to lower blood sugar instantly so that you can use the trick just after indulging in a piece of delicious cheesecake or a slice of pie.
    Smart Blood Sugar Reviews

  43. You've caught wind of them, may have utilized them, and may have even prescribed them to companions or family. While some Weight loss Supplements/ are surely known and set up, others need further examination. Peruse on for significant data for yourself as well as your family about dietary enhancements.

  44. The Hallelujah Diet was developed by priest George M. Marcolmos after he was diagnosed with cancer. 29 And he said, “God said, I will give you every vegetable I plant in the ground and every tree that produces fruit, and this is your food.

  45. Thank you for sharing and nice articles you have here Healthy Lifestyle

  46. Immediate Edge is an AI-based crypto exchanging programming that permits its clients to exchange Bitcoin and other cryptocurrencies. Immediate Edge guarantees that you can undoubtedly procure gigantic benefits out of the crypto market.

  47. Though there are many supplements available in the market claiming to be safe and results-oriented, choosing the right one among them is crucial. However, PhenQ is not a scam and is one supplement that is researched for its efficacy not only from clinical results but also from the feedback of its consumers. Let’s find out some more about this supplement and how it works.

  48. Night Slim Pro is a weight reduction supplement known to assist you with unwinding and decrease stomach fat. The all regular weight reduction supplements Night Slim Pro sacks are produced in the USA under sterile conditions in FDA and GMP controlled workplaces. Our protected, non-GMO additives are made with 100% unadulterated stabilizers.

  49. What is Bitcoin loophole?

    Bitcoin loophole is a cryptocurrency auto-trading tool that enables users to profit by employing a trading bot to predict profitable deals on the cryptocurrency market. The headquarters of Bitcoin loophole are in the United Kingdom. According to the corporation, the website advertises daily gains of up to £1500 and a trade win record of up to 99 percent.

  50. It is a dietary fat consuming enhancement for weight reduction that incorporates numerous perspectives outside of wellbeing. In many lessons, these dietary enhancements depend on natural equations utilizing an assortment of natural fixings. The African Lean Belly group has done a ton of examination on an assortment of normal mixtures that can assist you with getting more fit successfully. Along these lines, they made a recipe that can be utilized for the time being as a successful method to dispose of fat.

  51. JamesAllen, established in 2006 by Oded Edelman, James Schultz, Michele Sigler, and Dean Lederman, being the principal organization to consolidate stunning 360° video innovation with extraordinary client care and low rates. JamesAllen has changed the manner in which individuals purchase precious stone adornments and wedding bands. JamesAllen itself is viewed as a disruptor in the jewel market since it intends to teach clients about precious stone purchasing and too gives customized wedding bands as opposed to only pre-made conceivable outcomes.

  52. Are you looking for any guests authors right now because I am willing to offer you good quality posts composed specfically to your internet site Hello. PhenQ UK formula..

  53. Magnum XT can be a top notch, a characteristic male upgrade planned explicitly to enliven your energy and your androgenic chemical. In case you're encountering issues in the room, the Magnum XT will assist with reestablishing your sexual capacity, giving a quick longing to all the more likely fulfill your accomplice's necessities. There isn't a lot of sexual brokenness that invigorates you yet a profound and cheerful life for yourself as well as your accomplice.

  54. On the off chance that your exercise and eating schedules are right on track however you actually can't get the constitution you need, wellness supplements for folks are an absolute necessity have. Yet, have you at any point asked why? Exercise steroids supplements are an extraordinary way of taking advantage of your activities and sustenance systems without leaving the rec center.

  55. What is Dogecoin?
    One of the top and leading cryptocurrencies is Dogecoin. It was created by two software engineers Billy Markus and Jackson Palmer, on December 6, 2013. They initiated this as a joke for payment systems and to ridicule the cryptocurrency system.

  56. Thanks for a very interesting blog. What else may I get that kind of info written in such a perfect approach? I’ve a undertaking that I am simply now operating on, and I have been at the look out for such info. Meridian

  57. BioFit is a combination of seven unique fixings that have been displayed to help stomach related capacity in research. The probiotic microorganisms begins controlling the stomach and keeping away from gastrointestinal issues and shielding the body from unexpected difficulties; this enhancement supports the recuperating of existing inconsistencies in the body.

  58. Keto Advanced 1500 Reviews is the brainchild of a Media Group LLC product that is approved by the FDA and follows GMP regulations to protect customers' health. The manufacturer of the supplement claims that taking the pills helps you lose weight and develop lean shape. It also increases metabolism and the ketosis process takes place to burn fat quickly.

    See More Info At:

  59. Keto Advanced 1500 Reviews is a dietary supplement that works to enhance the process of ketosis in one’s body. Ketosis is a natural metabolic state when the body shifts its energy source from carbohydrates to fats to produce energy that can cater to every part of the body. The body gets into a process of ketosis when you take a low-carb, high-fat diet. This supplement has Beta-hydroxybutyrate that enhances this process of ketosis.
    See More at:

  60. Skincell Pro is a solid serum that is contained altogether of natural fixings. This serum works by entering the foundation of a mole or skin tag and actuating a flood of white platelets towards the imperfection, which starts the disposal and mending process.

  61. Maasalong is a characteristic male improvement supplement formed as a mix of regular fixings to treat the normal sexual issues in guys like diminished moxie, poor sexual execution, and erectile brokenness. It is a mix of natural concentrates, minerals, and nutrients that are generally known to be the most remarkable promoters to support moxie, upgrade nitric oxide and increment testosterone levels.

  62. What is Tvidler?
    Tvidler is an innovative and safe ear wax cleaner that effectively removes dust particles and cleans ear wax from the ear canal. Unlike the Q tips or cotton swabs that cause perforation of the eardrum, Tvidler safely removes the excess earwax from the ear without causing any harm. This unique ear wax cleaner is made of durable and quality material that easily functions to curb the possible rising damage to the ears by safely and thoroughly cleaning the ear wax. It is a revolutionary tool that brings relief by removing excess with its soft pointed tip.

  63. If you want to get permanent results, I recommend you use it for at least two months. Now you must be wondering: does Cardio Clear 7 work? Researchers and customers worldwide vouch for the amazing health and longevity benefits of Cardio Clear 7. Cardio Clear 7 review are typically positive because the reviews are written by people who have already used the product, rather than professional reviewers-you just can’t trust reviews from critics.


  65. The world is moving towards digital health solutions. People are more aware and involved in making health-related decisions and healthy lifestyle changes. Fitterfly has bridged the gap between healthcare accessibility and the health goals of people. Fitterfly is a health tech company working in the field of digital therapeutics India. It has an experienced team of health experts, comprising senior doctors, nutritionists, psychologists, physiotherapists, and technicians working together to help people achieve their health goals.

  66. This multifaceted concept extends beyond mere achievement, delving into the realms of personal growth, professional excellence, and the relentless pursuit of one's highest potential. Whether applied to sports, discover


Powered by Blogger.