Evaluating the market potential of biofortified maize seed among Ghana’s forest transition zone farmers

Biofortified foods are highly nutritious foods that play a strategic role in addressing micronutrient deficiency. While consumer acceptance of biofortified foods such as maize is increasing in developing nations where micro-nutrient deficiency is a major problem, the challenge lies in scaling up its production among smallholder farmers and developing a market system around the procurement of biofortified seed. Using cross sectional data collected from 227 randomly selected smallholder farmers and employing double bounded contingent valuation technique, potential demand and determinants of willingness to pay for bio-fortified maize were estimated. The study found that although only 32% of the study participants were willing to pay for biofortified maize seed at the market clearing price of 4 GH₵, there was market potential in a discounted pricing bracket, which captured about 32% − 59% of the study sample. The significant determinants of willingness to pay were product awareness, age, experience and formal education. In conjunction with this market implication, policies which facilitate government support in the form of subsidies is required to enable the financial feasibility of seed development until the market clearing prices can be charged on biofortified maize seed. The successful introduction of this technology hinges on targeted approaches that combine phased pricing, strategic subsidies, and robust awareness campaigns, particularly aimed at younger and more experienced farmers. The suggestion is leveraging these segmented insights can transform the commercial prospects of biofortified crops, aligning agricultural innovation with tangible improvements in nutrition and farmer livelihoods.