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Business News of Wednesday, 14 August 2019

Source: Ghanacrusader.com

Cocoa farmers reject proposed price of GHC8,000 per tonne

Cocoa farmers have rejected proposed cocoa farmgate prices of 5.2% for the 2019/20 season.

This follows reports that cocoa farmgate price is expected to be raised from GH¢7,600 per tonne to GH¢8,000 (US$1,523.81) per tonne for the season starting in October.

But some farmers told Ghanacrusader.com they are disappointed with the 5.2 percent increase.

According to them, Ghana Cocoa Board (COCOBOD), has for the past three years maintained the cocoa producer price at GH¢7,600 per metric ton and GH¢475 per bag, and so if there should be any increase, it shouldn’t be anything less than Ghc 1,000 per tonne.

The media reports noted that the price will be around GH¢8,000 per tonne next season. That’ll be GH¢500 per bag, but Mr Richard Amoah a cocoa farmer who spoke with this reporter said the Ghc25 difference since the last three years is nothing for them looking at the increase in prices of commodities in the country.

According to him, there are a lot of things that go into the cocoa production and so do not expect such proposed increment.

He lamented they have to battle with some pests and diseases as well as the fertility of their land.

According to him, the cost of fertilizer is expensive therefore, if the government believes that, cocoa is one of the country’s natural income, then they should adjust the price instead.

The farmers want a percentage increase between 650 and 700 percent.

They, however, called on the government to put in place measures to help their business grow.