According to the People’s National Convention (PNC), the government’s 21% increase in the producer price of cocoa is an insulting and disrespectful act.
“The difficulty in the economic system which is substantiated by the high cost of goods and the continuous increase in petroleum products should have compelled the cocoa board to increase the price of cocoa for the 2022/2023 cocoa season to at least 40%,” said Mark Ewusi Arkoh, national youth organizer for the PNC.
Instead of GHS 800.00, this would have increased cocoa prices to a minimum of GHS 925.00.
According to the PNC, the “increment is a pittance compared to the hard toil of the Ghanaian Cocoa Farmer this season” urging COCOBOD as a matter of urgency to review the price upward.
The statement said the country risks losing farms to galamsayers as some farmers have already been reportedly selling off their farms to galamseyers.
“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.
“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.”
Background
The government has pegged the producer price for cocoa at GH¢800 per bag of 64kg.
The new price takes effect Friday, October 7, 2022, for the 2022-2023 crop season.
The upward adjustment shows a 21 percent increase from GH¢10,560 per tonne to GH¢12,800 per tonne.
Minister for Food and Agriculture, Dr. Owusu Afriyie Akoto announced at a press briefing in Accra Wednesday, October 5, 2022.