The returns and income received by Ghanaian cocoa farmers from both local and international companies are often inadequate, prompting some farmers to transition to rubber plantation cultivation, which they perceive as more lucrative than cocoa farming.
Financial mismanagement and administrative corruption exacerbate this issue, sometimes leading to smuggling of cocoa beans to neighboring countries. This situation is both bizarre and unfortunate.
The cocoa sector has suffered from corruption and mismanagement under the New Patriotic Party government for the past seven years. Member of Parliament for Beum, Honorable Kofi Adams, expressed this concern during an interview on the Adekyee Mu Nsem morning show on Ahotor 92.3 FM, hosted by Alex Nana Dogbey in Accra.
The depreciation of the cedi has further diminished farmers’ investments in trading their produce in the highly competitive global market, especially when compared to neighboring countries whose governments provide incentives and support to farmers.
In another development, the Minority in Parliament is demanding an immediate increase in the farm-gate price of cocoa.
The Minority argues that global cocoa prices have been soaring, reaching an all-time high of $10,000 per ton. They cited an official document revealing the purchase approval of fifteen iPad keyboards for COCOBOD’s Board of Directors at a staggering cost of GHS4,500.00 per unit.
According to Eric Opoku, the ranking member on the Parliamentary Select Committee on Food, Agriculture & Cocoa Affairs, this expenditure demonstrates the mismanagement that has plagued COCOBOD, resulting in cumulative losses of GHS13.62 billion since 2017.
The Minority Caucus urges urgent action to revitalize the cocoa sector. They emphasize the necessity for the government to increase the farm-gate price of cocoa in alignment with the current world market price, to ensure the sector’s viability and the welfare of cocoa farmers.
