A new cocoa price will be announced on Tuesday, September 10, 2024, according to Mr. Joseph Boahen Aidoo, the Chief Executive Officer (CEO) of the Ghana Cocoa Board (COCOBOD).
Mr. Aidoo disclosed that President Nana Akufo-Addo will declare the new price at the start of the new cocoa planting season while speaking to a group of cocoa farmers in Kumasi.
He clarified that unexpected events caused the government to postpone the season’s original opening date of September 1, 2024.
Although he did not provide the farmers any precise numbers, Mr. Aidoo gave them his word that the new cocoa price would be more than the going rate.
Concerned that he and the Finance Minister had made contradictory remarks about how the upcoming cocoa season would be financed, Mr. Aidoo made it clear that this year would not rely on outside assistance.
He restated COCOBOD’s commitment to self-funding for the forthcoming season, which is a major departure from the organization’s prior use of foreign money.
He made it clear that the organization will survive on its own without outside assistance if the self-financing strategy is effective.
Regarding the matter of cocoa smuggling, Mr. Aidoo revealed that COCOBOD has formally asked the Minister of Defence, via the sector minister, for military intervention to address the issue.
With assistance from COCOBOD, an Anti-Cocoa Smuggling Program will shortly be introduced to stop the smuggling and safeguard the cocoa sector.
Mr. Aidoo also talked about the harm that “galamsey,” or illicit mining, causes to the cocoa industry. He emphasized how vital it is to take action against these acts since they endanger the livelihood of cocoa producers.
At the meeting, a few farmers demanded that the government increase the price of cocoa in order to prevent smuggling and discourage illicit mining in cocoa-growing regions.
Source: newsthemegh.com