The Progressive People's Party (PPP) has called upon the government to prioritize the enhancement of the entire cocoa farming value chain within the country.

0

While acknowledging the recent commendable increase in cocoa purchasing prices, the PPP emphasized the necessity for the government to explore avenues for improving the overall cocoa value chain.

1

This stance was articulated in a statement issued by the PPP, with National Chairman Nana Ofori Owusu's signature and release in Accra on Wednesday.

2

The party believes that Ghana can substantially improve cocoa farmers' livelihoods by providing them with resources, training, infrastructure, financial access, and by empowering them through cooperative associations.

3

This approach aims to reduce reliance on international price fluctuations.

4

“Additionally, promoting diversification, value addition, and sustainable farming practices will contribute to the long-term growth and sustainability of the cocoa industry in Ghana,” the PPP added.

5

Furthermore, the PPP emphasized the importance of promoting diversification, adding value to cocoa products, and adopting sustainable farming practices to ensure the long-term growth and sustainability of Ghana's cocoa industry.

6

In terms of strategies to uplift farmers' livelihoods, the PPP proposed that the government should focus on providing resources and training, developing infrastructure, encouraging diversification and value addition, facilitating access to finance and credit, empowering farmers through cooperative associations, and promoting sustainable farming practices.

7

On September 9, President Akufo-Addo announced a significant 63.6% increase in the farm gate price of cocoa beans, raising it from GH₵800 to GH₵1,308 per bag for the upcoming cocoa season.

8

The president made this historic announcement during the opening of the 2023/2024 cocoa season in Tepa, Ashanti Region, and noted that this increase is the highest in West Africa over the past 15 years.

9

President Akufo-Addo also highlighted the challenges posed by low international cocoa prices, compounded by the COVID-19 pandemic. Despite these difficulties, he expressed the government's commitment to supporting cocoa farmers by increasing cocoa prices from GH₵12,800 per ton in 2016 to GH₵20,943 per ton and GH₵1,308 per bag in 2023.

10

This significant raise aims to encourage producer investment and sustain the cocoa industry's future growth.

11

“Until recently, international prices of cocoa have remained relatively low and made worse by COVID-19. In spite of this, the government has made a very hard decision to increase producer prices of cocoa. Cocoa prices have increased from GH¢7,600 per ton in 2016 to GH¢12,800 per ton in 2022. A significant increase of 68 percent. This has had an adverse impact on COCOBOD’s financial performance.”

12

“However, the sustainability of the entire industry hinges on the producer being willing to invest in the business and be certain that the government repays the appropriate price. The international market is beginning to pick up and the government in keeping with our promise to Ghana cocoa farmers has today increased cocoa beans from GH¢12,800 to GH¢20,943 per ton and GH¢1,308 per bag,” he stated.

13

14