The association argues that the current pricing is no longer sustainable for farmers, especially given the rising cost of cocoa on the international market.
The Ghana National Cocoa Farmers Association (GNCFA) is urging the government to raise the price of cocoa from GHS 2,070 to GHS 6,000 per bag.
Cocoa farmers
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According to the GNCFA, this proposed price increase is necessary to ensure that cocoa farmers receive a fair share of the profits and can maintain their livelihoods amid increasing production costs.
The association highlighted the economic importance of cocoa to Ghana and warned that without adjustments, farmers might face financial difficulties, potentially impacting the country's overall cocoa production. The GNCFA is calling for immediate action to address the pricing concerns to secure the future of Ghana’s cocoa industry.
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Ahead of the 2023/2024 season, a newly announced cocoa producer price of GHC20,943 Ghana cedis per tonne, which was set by the Cocoa Producer Price Committee, comprising industry experts and farmer representatives, is a substantial increase on the previous price of GHC12,800 per tonne, equivalent to a hike of over 63%.
A standard bag of cocoa or the equivalent weight of 64 kilograms of raw cocoa beans will now fetch GHC1,308, up from last season’s GHC800 per bag.
The quantum increase is in line with the fixed objectives of the government and COCOBOD to ensure better compensation for cocoa farmers, who have been grappling with many challenges, and to reward them for their hard work and dedication.
