The chief executive of Ghana Cocoa Board (COCOBOD) Joseph Boahen Aidoo has said cocoa pricing in Ghana goes through a series of consultations and metrics before a final figure is determined.
On 9 September 2023, the government of Ghana announced a new cocoa price at the opening of the 2023/2024 cocoa season.
A bag of cocoa was moved from GHC800 per bag to GHC1,308, which moves the price per tonne from GHC12,800 to GHC20,943 representing a 63.5% increment.
However, the Minority in Parliament described it as a scam. According to them, the farmers deserve some more as the product on the international market has surged to a record high of about $3,600 per metric ton as of 31 August 2023.
Speaking at the maiden edition of the Brong Ahafo Women Cooperative Cocoa Farming and Marketing Central Union Festival (BAWCOF 2023) in Sunyani, Aidoo said that the producer price review committee, which is made up of representatives of cocoa farmers, licensed buying companies and other stakeholders in the cocoa production industry all have a say in arriving at the final price.
“When they are working on the pricing, I’m not part of it. We have a producer price review committee which includes the Bank of Ghana, COCOBOD and other representatives, they decide and come out with new prices,” the CEO said.
Aidoo encouraged all cocoa farmers to take advantage of the cocoa farmer pension to enjoy its benefits. The Bono regional administrator of COCOBOD, Michael Asumanu called for the empowerment of women in cocoa farming to attain financial independence.
As part of the festival, there was a health screening and a cooking competition. Present at the event were representatives of the Sunyani traditional authority.
The festival also brought together members of the cooperative from 96 societies in nine cocoa growing districts in the Brong Ahafo area.
It was an occasion to celebrate hardworking women in cocoa farming for their contribution to the development of the sector. The marketing cooperative seeks to amongst others, empower women in cocoa farming with alternative means of livelihood.
Reporting by Daniel Donkor in the Bono Region
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