Concept:
A palindrome reads the same from left to right and right to left.
A CFG generating palindromes over \(\{a,b\}\) is:
\[
S\rightarrow aSa
\]
\[
S\rightarrow bSb
\]
\[
S\rightarrow a
\]
\[
S\rightarrow b
\]
\[
S\rightarrow \epsilon
\]
Step 1: Count the productions.
There are
\[
5
\]
productions.
Step 2: Verify completeness.
The productions generate:
\[
a,\;b,\;aa,\;bb,\;aba,\;abba,\ldots
\]
which are all palindromes.
Step 3: Write the answer.
Hence the minimum number of productions is
\[
\boxed{5}.
\]