The Cocoa Farmers Association has launched a scathing attack on the government’s recently announced farm gate prices for cocoa beans, labeling it as an insult to hardworking cocoa farmers across the country.
President of the Cocoa Farmers Association, Stephenson Anane Boateng, expressed deep disappointment with the new prices set by the New Patriotic Party (NPP) government, emphasizing that cocoa farmers deserve better.
Boateng argued that the government’s decision does not reflect the true value of cocoa in the global market. He highlighted the discrepancy between the government’s announced price and the international price of cocoa, which stands at $10,000 per metric ton. Boateng emphasized that this global price translates to over GH¢9,000 in local currency, far surpassing the government’s proposed farm gate prices.
The President of the Cocoa Farmers Association criticized the disparity between the compensation received by cocoa farmers and the profits retained by the Ghana Cocoa Board (COCOBOD). He lamented that while cocoa farmers undertake the laborious task of cultivation, purchase inputs, and pay themselves, they are only receiving a fraction of the profits compared to COCOBOD.
The Government, through COCOBOD, had announced a 58.26% increase in the Producer Price of cocoa, raising it from 1,308ghc to 2,070ghc per 64kg for the rest of the 2023/24 cocoa season. However, this move has faced swift criticism from the opposition National Democratic Congress (NDC), which argued that the farm gate price falls significantly below the international market price.
The NDC characterized the government’s decision as a “monumental rip-off” of the nation’s cocoa farmers, underscoring the need for fair compensation that aligns with the true value of cocoa in the global market.
The backlash from the Cocoa Farmers Association and the opposition NDC underscores the growing dissatisfaction among cocoa farmers over the government’s pricing policies, raising concerns about the livelihoods and welfare of those at the heart of Ghana’s cocoa industry.
