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Tuesday, April 16, 2024

Minority demands increase in farm-gate price of cocoa

The Minority in Parliament has called for an immediate increase in the farm-gate price of cocoa in Ghana, citing the recent unprecedented surge in global cocoa prices.

In a statement signed by Member of Parliament for Asunafo South, Mr. Eric Opoku dated Tuesday, April 2, 2024, the minority expressed concern over the sharp decline in Ghana’s cocoa production under the current government, with production levels at their lowest in two decades.

The Minority highlighted that while the international market price for cocoa has reached $10,000 per ton, Ghanaian farmers are being paid a significantly lower amount of GHS1,308 per ton.

The statement, posted on social media [X] by the National Communication Officer of the National Democratic Congress (NDC), Sammy Gyamfi, accused the government of mismanagement and corruption in the cocoa sector, stating that the low prices being paid to farmers are leading to worsening living conditions for cocoa farmers.

The Minority also raised concerns about the high levels of cocoa smuggling, which they attributed to the lack of competitive prices offered to farmers.

They criticized the high administrative expenses of COCOBOD, the country’s cocoa regulatory body, and highlighted extravagant spending on items such as iPad keyboards for board members.

They urged the government to take swift action to save the cocoa sector in Ghana.

“It is instructive to note, that the average international market price of cocoa currently stands at Ten Thousand United States Dollars ($10,000) per ton (16 bags) of cocoa. This equals GHS130,000 per ton, at a conservative exchange rate of $1 to GHS13. This means that a bag of cocoa is currently being sold on the world market at about GHS8,125. At the same time, the Ghanaian farmer is being paid a paltry GHS1,308 by the insensitive and corrupt Akufo-Addo/Bawumia/NPP government.”

“This is a clear rip-off of our hard-working cocoa farmers by the Akufo-Addo/Bawumia NPP government who continue to mismanage the cocoa sector. The NDC caucus in Parliament therefore demands that the government immediately increases the farm-gate price of cocoa to reflect the recent unprecedented hike in the world market prices of cocoa.”

 

 

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