21% increase in cocoa price insult to farmers – PNC
The People’s National convention (PNC) has described the 21% rise in the producer price of cocoa as an insulting and disrespectful gesture by government.
A statement issued by the PNC’s National Youth Organizer, Mark Ewusi Arkoh said: “The difficulty in the economic system which is substantiated by the
high cost of products and the continuous increase in petroleum
products should have compelled the cocoa board to increase the price
of cocoa for the 2022/2023 cocoa season to at least 40%. This would
have brought up cocoa prices to a minimum of GHS 925.00 instead of
According to the PNC, the “increment is a pittance compared to the hard toil of the Ghanaian Cocoa Farmer this season” urging COCOBOD to as
a matter of urgency review the price upward.
The statement said the country risks losing farms to galamsayers as some
farmers have already been reportedly selling off their farms to galamseyers.
“Farmers find it difficult to manage the proceeds from this price. If cocoa farmers are not happy, productivity in this sector is also negatively affected. Many farmers are getting disappointed by the day.
“That being said, the government should quickly come in to review this
price increment not only to save our third-best export commodity but
to save our water bodies.”
The government has pegged the producer price for cocoa at GH¢800 per bag of 64kg.
The new price takes effect Friday, October 7, 2022, for the 2022-2023 crop season.
The upward adjustment shows a 21 percent increase from GH¢10,560 per tonne to GH¢12,800 per tonne.
Minister for Food and Agriculture, Dr. Owusu Afriyie Akoto made the announcement at a press briefing in Accra Wednesday, October 5, 2022.
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