The National Democratic Congress’ presidential candidate, John Mahama, has said that the government’s recently announced rise in the farm-gate price of cocoa is a rip-off of the industrious cocoa farmers and their families, who continue to support their economy by means of their hard work.
Mahama, who weighed in on the cocoa price rise, expressed dismay.
In a Facebook post, Mahama stated that with the international market price of cocoa reaching a 46-year high of $3,600, the government should have given cocoa farmers a more equal portion of the international FOB price.
He claimed that the cocoa farmers, who have fared worse since the NPP took office in 2017, are the ones who should be treated fairly.
Mahama stated that the NPP government should have developed on this foundation and increased COCOBOD’s running costs while decreasing the farmers’ portion of the international FOB.
He shared dissatisfaction with the government’s decision to provide farmers only GH1,308 per bag, which is only 52.7% of the FOB price on the international market.
President Nana Addo Dankwa Akufo-Addo announced a rise in the farmgate price for cocoa beans over the weekend.
Nana Addo told farmers at the start of the 2023/2024 cocoa season in Tepa, Ashanti region, that the price per bag had been increased from GH800 to GH1,308.
According to reports, this is a 63% increase and the largest price increase for cocoa in nearly two decades.
The new prices will be effective immediately for the following crop year.
Nana Addo urged Ghanaians to use more local cocoa products such as chocolate in order to stimulate domestic production and promote health benefits.