Home   >   Politics   >   Politics   >   201904
Increase Cocoa Price To Ghc 650 This Cocoa Season - NDC Man Tells Gov't   
  << Prev  |  Next >>
Comments ( 0 )     Email    Print
Abass Nurudeen
Related Stories
The Ashanti Regional Communication Director of the NDC, Mr. Abass Nurudeen has asked the Akufo-Addo government to increase the price of a bag of cocoa to at least Gh650.00 when the cocoa season opens in October this year.

Abass Nurudeen whilst contributing to a panel discussion on Peace FM's 'Kokrokoo'', stated that currently, one tonne of cocoa is being sold at $2,273 on the world market according to http://www.mundo.com.

" . . Considering the fact that 16 bags of cocoa make 1 tonne. If you divide 2,273 by 16, you get $142 . . . now if you multiple $142 x at an exchange rate of 5.5 you get Gh781. 

"So by this calculation, cocoa is being sold at Gh781. Therefore, considering the fact that government has not increased the prices of cocoa for 2 years running and also considering the fact that this government has halted the free distribution of fertilizers and construction of cocoa roads project that were started by the Mahama administration, this government must buy a bag of cocoa for at least Gh650 to compensate for the hardship that cocoa farmers have gone through under the Akufo-Addo government," he stated.

Ghana, the world's second largest cocoa grower, has maintained the guaranteed price it pays farmers at GH₵7,600 per tonne for the 2018/19 main crop harvest.

Agric Minister, Dr Afriyie Akoto made the announcement whiles addressing cocoa farmers and other stakeholders in the cocoa industry at the 2018 Cocoa Day event. 

“The 2018/19 cocoa season which starts on Friday, October 5, has been officially announced. The government in consultation with stakeholders has decided to maintain the producer price for cocoa at GH₵7,600 per tonne or GH₵475 per bag of 64 Kilograms (KG),” he stated.

The timing for the announcement of cocoa producer price was concurrent with Ivory Coast, a move expected to check smuggling between the two countries.

Minister for Agric, Dr Afriyie Akoto Osei explained the move to maintain prices was to cushion farmers against losses incurred from the declining cocoa prices.

Meanwhile, Ivory Coast, the world's leading producer of cocoa, raised the guaranteed price it pays farmers to 750 CFA francs ($1.34) per kilogram for the 2018/19 main crop harvest. 

Crop output for the 2018/19 season is expected to be mostly unchanged at slightly under 2 million tonnes, Chairman of Ivory Coast’s Coffee and Cocoa Council Lambert Kouassi Konan said at a ceremony to mark the start of the season.

"The guaranteed price for the whole territory is fixed at 750 CFA per kilogram for this season. No changes will be tolerated," Konan said.

Source: Isaac Kwame Owusu/Peacefmonline.com/[email protected]

Comments ( 0 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video