Some cocoa farmers in Ghana are disappointed with the government over the recent increase in the cocoa farmgate or producer price for the 2023/24 season.
The announcement of a 58.26% increase from GH¢20,928 per tonne to GH¢33,120.00 per tonne for the remainder of the season has left some farmers feeling shortchanged.
According to members of the Ghana National Cocoa Farmers Association, they deserve more, especially considering the current global surge in cocoa prices.
The association’s President, Stephenson Anane Boateng, expressed this sentiment in a media interview, describing the increment as inadequate and an insult to the hard work of cocoa farmers.
Boateng urged the government to reconsider and provide a more equitable price for cocoa farmers. He also criticized COCOBOD, accusing them of withholding farmers’ money without valid reasons.
“Cocoa has been raised globally to $10,000 per metric ton. So if you compare and you convert to our currency, it is running over GH¢9,000. We totally disagree with them. We pay our labor, we buy inputs for the farm, and then we also pay ourselves.
“So in a nutshell, we get only GH¢600 for that while COCOBOD also gets GH¢7,000. So what work did COCOBOD do that they give us that money. It’s an insult!”
The Ghana Cocoa Board (COCOBOD) recently announced a substantial 58.26 percent increase in cocoa prices, setting the rate at GH¢33,120 cedis per ton for the 2023/2024 crop season. This adjustment took effect on April 5, 2024.
COCOBOD explained that the decision was made to ensure that cocoa farmers benefit from the high global cocoa prices and to discourage the smuggling of cocoa beans.
Despite COCOBOD’s rationale, the Minority in Parliament has criticized the new price, arguing that it is insufficient and fails to adequately compensate cocoa farmers.