Minority in Parliament Urges Government to Increase Cocoa Farm-Gate Prices

he Minority in Parliament has issued a stern call to the government, urging an immediate increase in the farm-gate price of cocoa to uplift the living standards of cocoa farmers across Ghana.

In a statement signed by Eric Opoku, the Ranking Member on the Parliamentary Select Committee on Food, Agriculture, and Cocoa Affairs, the Minority emphasized the necessity of aligning the farm-gate cocoa prices with the prevailing global market rates. This, they argue, would not only incentivize local farmers but also curb the pervasive issue of cocoa smuggling within the country.

The statement lambasted COCOBOD's management, accusing them of misplaced priorities, particularly highlighting the expenditure on non-essential items such as iPad keyboards for board members while neglecting the welfare of cocoa farmers.

Expressing discontent over the disparity between global cocoa prices and the compensation received by Ghanaian farmers, the Minority underscored the current discrepancy. While a bag of cocoa fetches approximately GH¢8,125 on the world market, local farmers are reportedly receiving a meager GH¢1,308 from the government.

The Minority further raised concerns about the alarming decline in Ghana's cocoa production under the current administration. Citing projections for the 2023/2024 crop season, they warned of a potential two-decade low in cocoa output, estimating around 450,000 metric tons. This, they argued, would severely impact the livelihoods and purchasing power of Ghanaian cocoa farmers.

Highlighting the economic repercussions of mismanagement in the cocoa sector, the Minority revealed staggering figures of losses incurred due to smuggling activities. Approximately 150,000 metric tons of cocoa, valued at nearly $400,000,000, were purportedly lost to smuggling last year alone, attributed to the government's failure to offer competitive prices to farmers.

In light of these pressing issues, the Minority urged prompt action to salvage the cocoa sector from further deterioration, emphasizing the imperative of prioritizing the welfare of cocoa farmers and implementing measures to restore profitability and sustainability to the industry.

The call comes amidst growing concerns over the future of Ghana's cocoa industry, signaling a pressing need for decisive governmental intervention to address systemic challenges and ensure the prosperity of cocoa farming communities nationwide.