Minority Caucus Urges Government to increase the producer price of cocoa

The Minority NPP Caucus in Parliament has described the government refusal to increase the producer price of cocoa as a stab in the back of cocoa farmers and in sharp contrast to their (NDC) manifesto promise.

They also called on the government to put an end to the excuses and increase the producer price of cocoa to benefit cocoa farmers.

Cocobod, in a recent statement, attributed the inability to adjust the cocoa price to the absence of a Board of Directors and a Producer Price Review Committee.

During a press conference in Kumasi today, Hon Dr Isaac Yaw Opoku, the Ranking Member on the Food, Agriculture, and Cocoa Affairs Committee, expressed disappointment with the government for not adjusting the price for the 2024/2025 season.

In the page 43 of the NDC’s 2024 campaign promise, it stated that; “the NDC government will ensure regular price increments depending in line with with world market trends”.

According to the Minority, cocoa farmers believed in the promises made by the NDC and voted overwhelmingly to bring them into power, hence called on the government to stop the numerous excuses and honor it’s promise and increase the producer price.

Addressing the media in Kumasi, the Ashanti Regional capital on Monday, April 14, Dr. Isaac Yaw Opoku, MP for Offinso South, urged the government to immediately honor its pledge and pay farmers the promised 70% of the world market price.

The Offinso South legislator stated that the recent price hike in Cote d’Ivoire has created a significant disparity they that threatens to exacerbate cocoa smuggling across the border.

He added that the Ivorian government’s decision to increase cocoa prices from 1,800 CFA to 2,200 CFA per kilo, representimg a substantial 22.24% rise, has widened the price gap between Ghana and Ivory Coast.

“At the current exchange rate, Ivorian farmers are now receiving the equivalent of GHC3,635 per 64kg of cocoa, a staggering GHC535 more than Ghana. This stark difference presents an irresistible incentive for smugglers to divert Ghanaian cocoa across the border, potentially leading to a mass exodus of our prized light crop beans from the border regions, particularly Western South, Western North and Brong Ahafo,” he stated.

The Minority Caucus also admonished the government not to hide behind COCOBOD debt and deny farmers their legitimate sharof the FOB for their toil, pointing out that COCOBOD has the economic size and the financial capacity to pay whatever debt it owes.

Dr. Yaw Opoku stressed, disclosing that; as at February 2025, cocoa purchased and taken over by COCOBOD was more than 560,000 tonnes. This he added is closed to $3.0 billion (GHC45.0 billion) based on the achieved average FOB price and cashflow in just 5 months within the 2024/25 crop year beginning from October 2024.

He added that the new financing model introduced by the ertswhile NPP administration has further strengthened the financial capability of COCOBOD. “For the first time in 32 years, COCOBOD did not go for the annual syndication loan to finance the 2024/25 crop. No borrowing at all,” he reiterated.

The Minority Caucus said the NPP administration demonstrated the foresight and flexibility to adjust cocoa prices promptly when faced with significant disparities between Ghana and Cote d’Ivoire.

This proactive approach they believe maintained the integrity of cocoa industry and protected farmer’s interests, noting that the current administration’s failure to act swiftly in the face of this growing crisis is both baffling and deeply concerning.

The Offinso South MP urged th government to safeguard the cocoa industry, protect farmer’s livelihoods and maintain Ghana’s position in the industry.

Failure to do so, he opined will result in irreparable damage to the economy and a betrayal of the hardworking farmers who form the backbone of the nation’s agricultural sector.