Increasing cocoa price by 21% per bag insulting

The People’s National Convention (PNC) has described the new farm gate prices for cocoa as disrespectful to farmers.

“It is a very insulting and disrespectful gesture for cocoa farmers to sell their cocoa beans at GH¢800.00 per cocoa sack,” the party said in a statement.

“Farmers find it difficult to manage the proceeds from this price. If cocoa farmers are not happy, productivity in this sector is also negatively affected. Many farmers are getting disappointed by the day.”

It believes the harsh economic conditions and high cost of inputs should compel an increase by at least 40 percent.

The increase ahead of the 2022/2023 crop season was 21 percent.

“This would have brought up cocoa prices to a minimum of GH¢925.00 instead of GH¢800.00.”

The PNC has thus called for an upward review of the price.

If further noted the implications that this could have on the fight against illegal mining.

“Failure to heed this alarm will give incentive to many more cocoa farmers to sell off parts or all of their farms to galamsayers as some farmers have already been reportedly doing.”

“That being said, the government should quickly come in to review this price increment not only to save our third-best export commodity but to save our water bodies,” the PNC said.