The government has been ordered by the minority party in parliament to promptly set a new producer price for cocoa beans in the nation.

The NDC MPs want the government to raise the price of a bag of cocoa beans from the current 666 cedis to 1000 cedis.

Actually, the uncertainty is becoming really concerning but, allow me to add that given these uncertainties, the government should not declare a price lower than GHC16,000 per metric tonne, or a thousand cedis every bag.

A new cocoa farmgate price for the 2022–2023 crop season, which started on October 1, 2022, was not disclosed by the Ghanaian government.

The Ghana Civil-Society Cocoa Platform (GCCP), an independent campaign and advocacy platform for civil society actors in the cocoa sector wants Ghana Cocoa Board (COCOBOD) to announce an increase in the Producer Price of Cocoa to ¢838 from the current ¢660 a bag for the 2022/2023 crop season.

But addressing the media in parliament minority spokesperson on finance, Dr. Cassiel Ato Forson revealed Ghanaian cocoa farmers are smuggling their produce to Ivory Coast where prices are high as a result of the delay in announcing the new prices.

The former deputy finance minister argued payment of premium price to farmers is non-negotiable if the smuggling is to stop.

“It will surprise you that on Friday, 30th September 2022, our neighbouring country, Ivory Coast announced a price of 900 CFA franc which is equivalent to GHC852 per bag or GHC13,632 per metric tonne. Eventhough their currency is not depreciating at this rate as we have observed in Ghana. Let me caution that if this government fails to raise the Cocoa prices it could trigger massive smuggling, particularly at a time when we need every single dollar."

“Today, one thing that this country needs most foreign Exchange, the dollar, and so we cannot afford to allow our cocoa to leave the borders of our country. And we can only do that if indeed we preserve the farmgate price by giving the farmers a good price.”