The People’s National convention(PNC) has described the 21% rise in the producer price of cocoa as an insult to Ghanaian farmers.
A statement issued by the PNC’s National Youth Organizer, Mark Ewusi Arkoh stated that ”The difficulty in the economic system which is substantiated by the high cost of products 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%. This would have brought up cocoa prices to a minimum of GHS 925.00 instead of GHS 800.00.”
The statement said the “increment is a pittance compared to the hard toil of the Ghanaian Cocoa Farmer this season”.
He urged urging COCOBOD to as a matter of urgency review the price upward.
“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.”
The government of Ghana has announced a new producer price for cocoa.
The new price has been pegged at GH¢800 per bag of 64kg.
The new price takes effect from Friday, October 14, 2022, for the 2022-2023 crop season.
The new price represents a 21 per cent increase from GH¢10,560 per tonne to GH¢12,800 per tonne.
Speaking at a press briefing on Wednesday, October 5, 2022, the Minister for Food and Agriculture, Dr. Owusu Afriyie said “The 21% rise in the producer price of cocoa is a testament to Government’s resolve to ensure farmers earn a decent income and make cocoa farming lucrative. Government will continue to implement initiatives to build a robust, resilient and sustainable cocoa industry where cocoa farmers and their communities will thrive”.