The parliamentary minority claims that if the farm price of cocoa falls below 60% of the prevailing international market price, it is a monumental rip-off of the country’s suffering cocoa farmers.
This comes on the back of the government increasing cocoa producer prices by 58.26% from GH¢1,308 to GH¢2,070 per 64kg for the remainder of the 2023/24 cocoa season.
However, a minority of members of the National Democratic Congress (NDC) disagree with the government’s new price.
“At a time when domestic cocoa production has plummeted from 969,000 tonnes in 2016 to just 450,000 tonnes in 2024, the last thing the Akufo-Addo/Bawumia government expects is for the already impoverished The government has set cocoa farm prices to compensate for the huge losses recorded in their incomes.
“We believe that raising cocoa farm prices below 60% of the prevailing price on the international market is a monumental rip-off of suffering cocoa farmers,” said the senior member of the Parliamentary Select Committee on Food. Eric Opoku, the head of agriculture and cocoa affairs, made the announcement in a statement.
He added: “In other words, it is grossly unfair and unacceptable for the farm gate price of cocoa to fall below GH¢5,000 per bag.”
Below is the full statement of the minority.
press statement
For immediate release:
May 4, 2024
RE: 2023/24 Cocoa producer price review for cocoa season
On Tuesday, April 2, 2024, the parliamentary minority issued a press statement calling for an immediate increase in cocoa producer prices to improve the plight of cocoa farmers in Ghana.
This demand was based on the recent rise in global market prices for cocoa to an all-time high of an average of US$10,000 (equivalent to GH¢130,000) per tonne. This amount corresponds to 8,125 francs per bag of cocoa on the international market.
It is sad that the newly announced producer price of CHF 33,120 per tonne, or CHF 2,070 per bag, represents only 25.47% of the world market price for cocoa.
This represents the lowest percentage of the international market price for cocoa that has ever been given to Ghanaian cocoa farmers as farm gate prices, so it is I would like to emphasize again that this is a rip-off. Country.
The current cocoa producer price increase is only 25.47% of the international market price, compared to President Akufo-Addo’s earlier commitment to give Ghanaian cocoa farmers a farm price equivalent to a minimum of 70% of the international market price. It contradicts the promise. market price.
A minority is appalled by the continued defrauding of Ghana’s cocoa farmers by the callous and corrupt Akufo-Addo/Bawumia government. No government in our country’s history has disrespected our brave cocoa farmers like this.
With domestic cocoa production plummeting from 969,000 tonnes in 2016 to just 450,000 tonnes in 2024, the last thing the Akufo-Addo/Bawumia government is hoping for is the already impoverished cocoa industry. It’s about giving farmers a fair increase on their farms. – Gate price of cocoa to compensate for the huge losses recorded in their revenues.
We are of the view that increasing cocoa farm prices below 60% of prevailing international market prices is a tremendous rip-off from struggling cocoa farmers. In other words, increasing the farm price of cocoa below GH¢5,000 per bag is grossly unfair and unacceptable.
The minority wants the Minister of Agriculture to be brought before Parliament to answer for this daylight robbery committed against our brave cocoa farmers. In the coming days, the minority will hold a series of meetings with cocoa farmers and other industry stakeholders to advance Ghana’s moribund cocoa industry.
Signed.
Eric Opoku (Member of Parliament)
(Ranking Member of the Parliamentary Select Committee on Food, Agriculture and Cocoa Issues and Member of Parliament for Asunafo South)