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Business : Minority demands immediate announcement of producer price for cocoa

Business : Minority demands immediate announcement of producer price for cocoa

Business : price for cocoa – The Minority in Parliament has charged government to immediately announce a new producer price for cocoa beans in the country.

The NDC MPs want government to increase a bag of cocoa beans to thousand cedis from the current six hundred and sixty cedis.

“Infact, the uncertainties is getting very worrying. But let me say that after these uncertainties, government should not announce any price below thousand cedis per bag, in other words, GHC16,000 per metric tonne.”

The government of Ghana failed to announce a new cocoa farmgate price for the 2022/2023 crop season which began October 1, 2022.

The Ghana Civil-Society Cocoa Platform (GCCP), an independent campaign and advocacy platform for civil society actors in the cocoa sector wants Ghana Cocoa Board (COCOBOD) to announce an increase in the Producer Price of Cocoa to ¢838 from the current ¢660 a bag for the 2022/2023 crop season.

But addressing the media in parliament minority spokesperson on finance, Dr. Cassiel Ato Forson revealed Ghanaian cocoa farmers are smuggling their produce to Ivory Coast where prices are high as a result of the delay in announcing the new prices.

The former deputy finance minister argued payment of premium price to farmers is non-negotiable if the smuggling is to stop.

“It will surprise you that on Friday, 30th September 2022, our neighbouring country, Ivory Coast announced a price of 900 CFA franc which is equivalent to GHC852 per bag or GHC13,632 per metric tonne. Eventhough their currency is not depreciating at this rate as we have observed in Ghana. Let me caution that if this government fails to raise the Cocoa prices it could trigger massive smuggling, particularly at a time when we need every single dollar.”

“Today, one thing that this country needs most foreign Exchange, the dollar, and so we cannot afford to allow our cocoa to leave the borders of our country. And we can only do that if indeed we preserve the farmgate price by giving the farmers a good price.”

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