Haruna Mohammed, Member of Parliament for Asunafo North Constituency in the Ahafo Region, has reassured cocoa farmers that the Ghanaian government is protecting their incomes despite the recent fall in global cocoa prices.
His comment follows a sharp decline in the world market price of cocoa, which has dropped from $4,200 to about $3,100 per tonne. Despite this, the government is maintaining the producer price at ₵2,587 per bag.
“Dear cocoa farmers, as we speak, the achieved FOB price on the world market has dropped further from $4,200 to about $3,100 per tonne. As government is maintaining the current producer price of ₵2,587 per bag, it means farmers are receiving around 120% of the FOB value, that’s an additional 30% effectively paying more than the current market value of the cocoa itself,” Mohammed said.
He noted that this approach contrasts sharply with Côte d’Ivoire, which recently slashed its producer price by 57 percent due to the same global price slump.
“While others are slashing farmer prices, the government in Ghana is still cushioning cocoa farmers despite the difficult global market crisis. That is responsible leadership and a clear commitment to the Ghanaian cocoa farmer,” he added.
Meanwhile, the Minority has slammed government saying cocoa farmers deserve more that given to them, despite the global decline.
Source: Starrfm.com.gh
