FULL ROLLOUT OF COCOA FARMER PENSION SCHEME BEGINS IN OCTOBER

Date: 01st October 2022

Ghana Cocoa Board (COCOBOD) has announced that the nationwide enrolment of cocoa farmers onto the Cocoa Farmer Pension Scheme begins in October together with the commencement of the 2022/2023 cocoa season.

Mr Peter Mac Manu, the Chairman of the Board of Directors of Ghana Cocoa Board (COCOBOD) said the Board of Trustees and implementers of the scheme will be rolling out from district to district in cocoa-producing communities to enrol cocoa farmers onto the scheme.

Mr Mac Manu made this announcement at the grand durbar of the 2022 Cocoa Day Celebration at Suhum in the Eastern region.

He encouraged all cocoa farmers to take part in the enrolment exercise to enjoy the benefits of the much-awaited cocoa farmer pension.

This year’s cocoa day was celebrated in conjunction with the 75th anniversary of COCOBOD under the theme, “COCOBOD@75: Sustaining Our Environment, Wealth and Health”.

The Board Chairman said though the past year and the previous years have been challenging globally and for Ghana’s cocoa sector, COCOBOD has not relented in its efforts to push for policies that enhance the welfare of cocoa farmers and shall continue to be innovative and pragmatic in the midst of the challenges faced.

He said COCOBOD is working hard towards the realisation of the full potential of the Living Income Differential (LID) despite the actions of buyers to evade the pricing mechanism.

“As you are aware, it has been three years since the implementation of the Living Income Differential, a pricing mechanism spearheaded by Ghana and the Ivory Coast to secure a $400 premium on every tonne of cocoa sold to be paid to our farmers. However, unfavourable market price as well as deliberate attempts by buyers, among others, have tried to undermine this great initiative which seeks to guarantee a decent income for our farmers.” He said.

Hon. Yaw Frimpong Addo, the Deputy Minister of Food and Agriculture, in a statement on behalf of, Hon. Dr. Owusu Afriyie Akoto, the Minister of Food and Agriculture, said the producer price for the 2022/2023 cocoa season will be announced early next week. He, however, assured of “good news” for cocoa farmers.

“The expectation of farmers and industry stakeholders is that a new price of cocoa will be announced as well as the opening day of the season. Discussion at the [Producer Price Review Committee] PPRC is ongoing and the expectation is that some good news to our hardworking farmers will be announced early next week,” he assured.

He appealed for restraint to enable the PPRC to complete its work and announce the new producer price.