Government ripping off cocoa farmers with 58% hike in farmgate price - Eric Opoku

Member of Parliament for Asunafo South constituency, Eric Opoku, has said the 58 percent increase in the producer price for cocoa beans by government was a complete rip-off.

He wondered why government would divide the world market price into four; take three and give the remaining one to the producers [cocoa farmers] of the essential commodity.

Speaking on Citi TV's Point of View programme, Mr Opoku asserted that before this decision was taken by the Akufo-Addo-led administration, no government has in the history of Ghana given cocoa farmers less than 40 percent of the world market price.

“The argument we are canvassing is that, in the history of cocoa in Ghana, no government has ever given cocoa farmers less than 40% of the world market price, it has never happened. Because COCOBOD is not the producer of the cocoa, it’s just the regulator of the sector," the MP for Asunafo South said.

He added that, “The producers are there. Why should the government divide the world market price into four, take three and then give one to the cocoa farmers? What’s the rationale behind it? It’s a complete rip-off and it has never happened in the history of cocoa.”

The price of cocoa beans was raised from GH¢20,928 per tonne to GH¢33,120.00 for the rest of the 2023/2024 cocoa season.

According to COCOBOD, the increment was to enhance the income of cocoa farmers, as well as, discourage the smuggling of cocoa beans to neighbouring countries.

The new rate took effect Friday, April 5, 2024.

SA/MA