Report By: Ishmael Barfi
Ghana’s cocoa production is expected to hit a two-decade low, with output predicted to be around 500,000 metric tonnes for the 2023/2024 season.
According to the Civil-Society Cocoa Platform (GCCP), this drastic decline is due to numerous factors like low yields, high inflation, currency depreciation, and extreme weather conditions.
Addressing the media in Accra on September 2, 2024, the Platform noted that despite high global cocoa prices, Ghanaian farmers have not benefited significantly due to the country’s cocoa marketing strategy, which focuses on forward sales rather than spot sales.
According to GCCP, this has led to widespread poverty among cocoa farmers, forcing many to smuggle their beans to neighboring countries in search of better prices.
To address this, the GCCP urged the government to take immediate action to ensure fair compensation for farmers.
Key proposals include:
- A 65-70% increment in farm-gate prices for the 2024/2025 season
- Institutionalizing upward mid-term revisions of farm-gate prices to minimize cross-border smuggling.
While acknowledging the government’s efforts to enhance cocoa production, the GCCP highlighted the need to address challenges such as nepotism and politicization.
Additionally, the GCCP advocated for comprehensive policy changes to improve the livelihoods of cocoa farmers across Ghana and caution against the collapse of local license-buying companies, which they believe would destabilize the cocoa supply chain and harm farmers.
Source: www.thenewindependentonline.com
