GOVERNMENT MAINTAINS COCOA PRODUCER PRICE FOR THE 2021/2022 CROP YEAR

Date: 01st October 2021

Government has announced Gh¢660 as farm-gate price for a bag of 64kg of cocoa for the 2021/2022 crop season. 

The announcement was made at a news conference in Accra by Hon. Owusu Afriyie Akoto, Minister for Food and Agriculture and Chairman of the Producer Price Review Committee. 

Hon. Owusu Afriyie Akoto said in spite of the fall in the world market price of cocoa, among other factors, such as the effects of the Covid-19 pandemic on the global economy, Government has maintained the producer price at Gh¢10,560.00 per tonne, representing 87.15 % of the FOB value, as a demonstration of its commitment towards improving the livelihoods of cocoa farmers. 

According to him, Government is committed to sustaining the interest of cocoa farmers in the country to enable them produce more cocoa, enjoy remunerative incomes and improved well-being.

“The producer price has been maintained at a time other producing countries are contemplating reducing their farm-gate prices following a drop in the terminal cocoa market as a result of the challenges posed by the pandemic,” he added.

Through the Cote d’Ivoire-Ghana Cocoa Initiative which saw the implementation of the Living Income Differential (LID) of US$400 per tonne of cocoa in the 2020/2021 crop year, cocoa farmers are better-off today than their counterparts in other cocoa-producing countries. 

Hon. Akoto said the implementation of the Cocoa Farmers Pension Scheme would add up to the government’s efforts at ensuring improved livelihoods for Ghanaian cocoa farmers after retiring from active farming.

He further disclosed that the introduction of the electronic weighing scales for the 2021/2022 crop year would help farmers to fully enjoy the benefits of their labour.

“The weighing scales are certified by the Ghana Standard Authority (GSA). Therefore, I urge all LBCs to cooperate with GSA to set up the scales at their depots and use them to weigh cocoa to prevent cheating,” he cautioned.

He assured that the Government would continue to support Cocoa farmers through the Board’s Productivity Enhancement Programmes (PEPs) to increase yields as it did for the 2020/2021 crop year.

Hon. Akoto wished all stakeholders in the cocoa value chain a fruitful season and hoped that the 2021/2022 crop year will record another increase in production.

Meanwhile, the producer price for the 2021/2022 crop year takes effect from 8th October 2021.