Source: newsthemegh.com
The latest announcement of cocoa prices by the government has drawn criticism from members of the minority in parliament, who claim that the increase should have been substantially bigger.
They charge that the announcement of the price of cocoa was the subject of “gross propaganda” by President Akufo-Addo and his appointees.
For the forthcoming cocoa season, President Akufo-Addo recently announced a 60% price increase on cocoa, equivalent to GHC 1,308 per cocoa bag.
The President addressed the difficulties encountered by cocoa producers due to low worldwide cocoa prices, which have been made worse by the COVID-19 pandemic, in a speech at a gathering in Tepa on September 9.
He said that despite these challenges, COCOBOD and the government had decided to increase the cocoa producer price.
The President outlined the significant 68% increase in cocoa prices from GHC 7,600 per tonne in 2016 to GHC 12,800 per tonne in 2022.
He added that the price of cocoa had increased from GHC 12,800 per tonne to GHC 20,943 per tonne, or GHC 1,308 per bag. This new price, which amounted to $1,821 per tonne, was equivalent to 70.5% of the Gross FoB price. In addition, President Akufo-Addo emphasized that this was the highest price paid to West African cocoa growers in about 50 years.
Speaking to a group of farmers in the Ahafo Region, Minority Leader Dr. Cassiel Ato Forson asserted that, given the high price of cocoa on the world market, farmers should have gotten at least GHC 2,500 per bag of cocoa.
He claimed that the price of cocoa had increased significantly for the first time since 1977 and accused the government of exploiting cocoa growers.
In reality, I oversaw the rise in cocoa prices from 2013 to 2016. There is just one, unchangeable truth. The strength of the Cedi and the cost of cocoa on the world market are two factors that affect the rise in cocoa prices. We buy and export commodities as a nation, the Ajumako Enyan Essiam MP added.
Therefore, prices increase when we buy things when the Cedi is weak, just as they do when we sell items when we should profit. Since 1977, cocoa prices have increased significantly, so now is the time to profit from this trend.
If the NDC had been in power, we would have increased the cost of a cocoa bag by GHC 300 and fixed the price at GHC 2,500. Therefore, you would have received GHC 2,800 for each bag, he said.
Eric Opoku, the minority spokesperson on agriculture and cocoa affairs, refuted the NPP government’s assertions that it had done anything remarkable, asserting that the price of cocoa on the world market had risen to a record level.
He praised the NDC’s superior track record in dealing with cocoa farmers.