COCOBOD maintains cocoa prices despite fall in World Market

According to the Ghana Cocoa Board (COCOBO), government has put in place the necessary steps to maintain the price of cocoa beans for farmers despite a drop price in the world market.

Currently, Cocoa farmers are being paid an amount of GH 7,600 per tonne even though Cote d’Ivoire and other neighboring counties have reduced their prices.

Speaking to the media, the Chief Executive of COCOBOD, Joseph Boahen Aidoo, said, the decision to maintain the price was in consultation with stakeholders and cocoa farmers.

According to him, after a consultation forum with regional and district chief farmers, in respect of the pricing, government decided to pay the same price so as to avoid smuggling of the beans and to ensure vibrant economy through cocoa.

Boahen Aidoo, however indicated that the price of the crop in the World market ranges from $800 to $900 per tonne which is $1,000 lower than a ton of cocoa beans at $2,900 in 2016.

The Minister responsible for the Agricultural sector in Ghana, Dr Afriyie Akoto, noted that the government is implementing a programme to reduce the ageing capacity of the cocoa trees and eliminate the swollen shoot bothering farmers.

“Measures are being put in place, we have started implementing programmes to renew the ageing capacity of the cocoa trees and to eliminate the swollen shoot which is a huge risk,” he stated.

The minister said farmers of the programme would be given some allowances since they would lose some cocoa trees through the replacement method for a period of 3 to 4 years.

“So yearly, those farmers participating in the programme would be given some grants to support them while the new plants resisting the swollen shoot is replaced,” he noted.

Source: Nii Aflah Sackey


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