<\/p>\n
The Minority in Parliament has called for the swift announcement of a new farm gate price of cocoa for the 2022\/2023 season.<\/p>\n
The regulator for the Cocoa sector, COCOBOD, has secured a syndicated loan of $1.13 billion for the next crop season but is yet to adjust the farm-gate price which currently sits at GH\u00a2660 per 64 kg bag.<\/p>\n
Ivory Coast, however, raised its price by 9% per kilogram.<\/p>\n
At a press conference today, Ranking Member on the Finance Committee, Cassiel Ato Forson, entreated the government to increase the producer price to Ghc1000 per bag<\/p>\n
\u201cCocoa farmers are fed up and demand their cocoa prices now. The suspense cannot continue,\u201d Mr. Forson said.<\/p>\n
He noted further that the uncertainties over the pricing were getting very worrying for farmers.<\/p>\n
\u201cAfter these uncertainties, the government should not announce any price below GHS per bag, in other words, GHS16,000 per metric tonne.\u201d<\/p>\n
Mr. Forson added that the current prices were passed on an old exchange rate.<\/p>\n
We wish to remind them that the dollar is now trading at more than GHS10 per dollar,\u201d<\/p>\n
\u201cEven at the dollar equivalent price farmers and all stakeholders, including the Licenced Buying Companies and hauliers, should receive higher prices and margins this year.\u201d<\/p>\n
The government had previously indicated the new prices will be announced next week.<\/p>\n
Ghana last increased its farm gate price in 2022; from GHS515 to GHS660.<\/p>\n
That was a historic 28% hike that followed the $400 Living Income Differential on every tonne of cocoa.<\/p>\n