NPP Challenges Government To Increase Producer Price Of Cocoa By 50.4%

The NPP Caucus in Parliament is asking government to as a matter of urgency restore its policy of awarding cocoa farmers 70% of the Free On Board, FOB Price. It is advocating an immediate 50.4% increase in the producer price to Cocoa farmers. According to the Caucus, the sharp devaluation of the Cedis coupled with rising interest rates and other economy indicators resulting in the decline of incomes of cocoa farmers underscored the need for the farmers to be cushioned against the hardships being experienced. The Minority Spokesperson on Agriculture and Ranking Member on Food, Agriculture and Cocoa Affairs, Dr Owusu Afriyie Akoto echoed the demand on Thursday at a Press Conference in Parliament. He said the present adverse economic situation of cocoa farmers warrant a substantial increase in the price paid to them.