Cocoa farmers are calling for a 72.5% upward adjustment of the farm gate price of cocoa beans from ¢800 to ¢1,380 per bag for the next cocoa season.
Ghana Cocoa Board (COCOBOD) announced that the 2023/2024 cocoa crop season will start from this week Friday, September 8, 2023 as against the initial date of October 1, 2023.
Ahead of the official announcement of the new farm gate price, the Ghana Civil Society Cocoa Platform (GCCP) has organised a press conference to table their concerns, demanding an increase in the price of the commodity.
Addressing the media, member of the platform, Leticia Yankey said “Based on the working assumption of the Producer Price Review Committee (PPRC), which aims at ensuring that farm gate price is pegged at a minimum of 70% of the net Free on Board (FoB) price of cocoa beans, GCCP is of the firm opinion that farmers in Ghana should be receiving a minimum of ¢22,080 per tonne, which is equivalent to ¢1,380 per bag (62.5kg) of cocoa beans. This figure was arrived at using the lowest projected values available including an LID of $400 per tonne as agreed.”
Co-Coordinator of the Ghana Civil Society Cocoa Platform, Obed Owusu-Addai, said the Living Income Differential (LID) of $400 is a façade as the amount has dropped to $25.
“Before 2020, Ghana and Cote D’Ivoire, we were enjoying the origin differential/country premium and even after the season had ended, COCOBOD gave bonuses. But in 2019/20 cocoa season when Ghana and Cote D’Ivoire instituted the Living Income Differential of $400 per tonne of cocoa, the market reacted”.
“For 2020/2021 cocoa season, the country premium went into negative to the extent that till date, the premium has reduced to $25,” he bemoaned.
The Ghana Civil-Society Cocoa Platform is an independent campaign and advocacy platform for civil society actors in the cocoa sector.