The Ghana National Cocoa Farmers Association (GNACOFA) has issued an urgent call to the government and the Ghana Cocoa Board (COCOBOD) to revise the current cocoa pricing.
The Association claims the current price, based on an outdated exchange rate, is unfairly affecting farmers’ incomes.
In its statement, (GNACOFA) said it’s call comes as the exchange rate has shifted from GHC 10.25 to the U.S. dollar to a new rate of GHC 13.00.
GNACOFA argues that the existing producer price for cocoa does not reflect this new economic reality, effectively reducing the real income of farmers who are already facing increased costs for inputs and general inflation.
“The current pricing, still pegged to the outdated exchange rate, effectively reduces the real income of hardworking cocoa farmers, who are already burdened by rising input costs and inflation,” a statement from GNACOFA said.
It added that cocoa farmers are the “backbone of Ghana’s economy” and deserve fair compensation for their contributions.
The statement urged COCOBOD and the Ministry of Finance to immediately adjust the producer price of cocoa to reflect the new GHC 13.00 to the dollar exchange rate.
In addition to the immediate price adjustment, GNACOFA is calling for the establishment of a transparent pricing mechanism that will automatically adjust cocoa prices based on prevailing economic indicators.
“It is only just and equitable that the cocoa producer price be recalculated accordingly to ensure farmers are not shortchanged,” the statement continued. “This is not just an economic issue—it is a matter of fairness and sustainability.”
By: Rainbowradioonline.com/Ghana
