Ghana: Deedew Spices advocates for tax incentives, export expansion

Deedew Spices, a local spice manufacturer, calls on the government to provide incentives such as tax breaks and waivers to bolster the industry and enhance Ghana’s position in the thriving global spices market, valued at over US$120 billion.

William Acheampong, Resource and Optimization Manager at Deedew Spices, perceives spices as not only a potential tourism attraction but also a formidable force in exports.

“We know global supply chains are impacted, but we urge government to see the bigger picture – how much production would be spurred and how much exports could grow,” he said.

This coincides with the global spices market poised for substantial expansion, as Statista forecasts it to reach US$126 billion by the end of 2023, up from US$79 billion in 2022. Furthermore, the segment is anticipated to grow by as much as 5.8% annually between 2024 and 2028.

He further emphasized Deedew’s readiness to welcome tourists, providing them with insights into spice production and potentially drawing more visitors to Ghana.

This call to action comes amid a growing trend of increased interest in spices, with Mr. Acheampong attributing this growing interest to several factors, including the emphasis on healthy eating, the surge of food-related content online and a shift toward exploring diverse culinary experiences.

“Increased access through technology, especially social media, has undoubtedly influenced how people approach food. We are seeing people exposed to cultures that would otherwise be out of their reach and are merging their culinary traditions, leading to a demand for more diverse spices,” he explained.