cocoa prices to hit market by 2020
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Chief Executive of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has revealed prices of cocoa will be increased significantly by 2020/2021 crop year.
Though the Producer Price Review Committee has the mandate to fix farm gate price, he is optimistic it will settle on a very good price to make farmers happy.
Mr Aidoo said the anticipated increase will place a premium on farmer income and welfare.
Cocoa pricing has become topical in Ghana, Ivory Coast and the rest of the world.
The two West African nations have had to suspend the sale of cocoa beans to force the international market to respond to their demands.
Mr Aidoo revealed after all discussions, farmers should expect favourable price announcement on October 1, 2019, as a prelude to further increase for 2020/2021.
“On October 1, 2019, you will be hearing good news. Same period in 2020, we will also hear unprecedented prices of cocoa in the history of the country,” Mr Aidoo told Cocoa farmers.
Mr Aidoo addressed separate rallies of cocoa farmers and chiefs at Nyinahini, Mankranso and Tepa on a three-day tour of Ashanti Region.
It was to assess the level of farmer participation in various cocoa Productivity Enhancement Programmes (PEPs), being implemented by COCOBOD.
It also afforded the CEO the opportunity to gather first-hand information on farmer challenges in various producing areas.
Mr Aidoo encouraged cocoa farmers to pay extra attention to cultural practices to be able to produce more beans in order to benefit from any price adjustment.
“I am pleading with those who have farmlands to take good care of them and desist from giving them out to illegal miners,” he said.
While encouraging them to start working on their cocoa farms for good yields, the Chief Executive revealed that government will soon distribute 100 thousand motorised slashers to farmers.
“We have authorised the importation of 100 thousand motorised slashers into the country between October and November this year,” he stated adding that the slashers are detachable and can be changed for different purposes.
Mr Aidoo mentioned he is particularly happy because all the slashers would be handed over to the cooperatives to be distributed to the farmers.
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