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Business News of Wednesday, 25 August 2010

Source: GNA

Cocoa farmers call for new producer price

Nkwantaso (B/A), Aug. 25, GNA - Cocoa farmers at Nkwantaso in the Dormaa Municipality have appealed to the government and the Ghana Cocoa Board to announce early a new producer price for the crop to forestall problems they encountered with buying companies and purchasing clerks.

The farmers made the appeal in an interaction with Mr Vincent Oppong Asamoah, Municipal Chief Executive for Dormaa.

They alleged that purchasing companies took advantage of the usual delay in announcing the price to cheat them.

They said they got their reward during the harvest season and in their anxiety to honour their financial commitments the delay compelled them to sell their produce to the purchasing companies at the old producer price.

"While the government and COCOBOD are preparing to adjust the producer price the buying companies mobilize funds and purchase the chunk of cocoa beans produced in the area before the new price will be announced", the farmers said.

Mr. Oppong Asamoah assured the farmers of government's commitment to improving the industry and the status of those engaged in it.

He said their concerns would be submitted to the relevant quarters for redress.

Mr. Asamoah cautioned recalcitrant smugglers of the crop in the area to stop the practice or be prepared to face the full rigours of the law.