It’s an insult! – Cocoa farmers association on 58% increment in farmgate prices

The Ghana National Cocoa Farmers Association has described the Ghana Cocoa Board's announcement of an increment in the farmgate prices of cocoa beans as inadequate. According to the President of the association, Stephenson Anane Boateng, the 58.26 percent increase is insulting to cocoa farmers because the price of this essential commodity has been raised to $10,000 per metric tonne globally. In an interview with CitiNews, he said, 'Cocoa has been raised globally to $10,000 per metric tonne. So if you compare and you convert to our currency, it is running into over GHS9,000. We totally disagree with them. We pay our labour, we buy inputs for the farm, and then we also pay ourselves." 'So in a nutshell, we get only GHS600 for that while COCOBOD also gets GHS7,000. So what work did COCOBOD do and give us that money? It's an insult!' he bemoaned. The price of cocoa beans was however raised from GHS20,928 per tonne to GHS33,120.00 for the rest of the 2023/2024 cocoa season. The new rate took effect Friday, Ap ril 5, 2024. According to COCOBOD, the increment was to enhance the income of cocoa farmers, as well as, discourage the smuggling of cocoa beans to neighbouring countries. Source: Ghana Web