The 58.26% Price Hike has left Cocoa Farmers Unhappy.

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The 58.26% price hike leaves cocoa farmers unhappy. Stay informed on challenges facing the agricultural sector.

Ghanaian cocoa producers are upset with the recent announcement of increased farmgate pricing for cocoa beans.

A 58.26 percent rise was announced by the Ghana Cocoa Board (COCOBOD), with the price per tonne for the 2023–2024 harvest season being set at GH¢33,120 cedis.

As per COCOBOD, the objective of this decision is to disperse the advantages of the rapidly increasing worldwide cocoa prices and deter the smuggling of cocoa beans.According to the association’s president, Stephenson Anane Boateng, cocoa growers are not receiving fair treatment.

Global prices for cocoa have increased to $10,000 per metric tonne. Thus, when you compare and convert to our currency, the total comes to more than GH¢9,000. We are in complete disagreement with them. We purchase farm inputs, pay our workforce, and then make further payments he explained

In summary, we receive only GH¢600 for that, whilst COCOBOD receives GH¢7,000. What exactly did COCOBOD perform for us to earn that money? It’s derogatory!

 

 

Source: Citinews

 

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