Ghanaian cocoa farmers are up in arms despite a significant increase in the producer price of cocoa beans announced by the Ghana Cocoa Board (COCOBOD).
The new price, set at GH¢33,120 per ton for the 2023/2024 season, reflects a 58.26% increase.
The price hike, which COCOBOD claims aims to distribute the benefits of soaring global cocoa prices and discourage smuggling, has been met with strong opposition from the Ghana National Cocoa Farmers Association.
Association President Stephenson Anane Boateng argues that the increase is simply not enough. He points to the significant rise in global cocoa prices, which he believes should translate to a much higher farmgate price for the farmers themselves.
“Cocoa has been raised globally to $10,000 per metric ton. So if you compare, and you convert to our currency, it is running into over GH¢9,000. We totally disagree with them,” said Stephenson Anane Boateng.
Farmers argue that after accounting for labour costs, input expenses and their own income, they are only receiving around GH¢600 per ton, while COCOBOD pockets GH¢7,000.
“So what work did COCOBOD do and give us that money? It’s an insult!” Boateng.
The perceived unfairness of the price increase has left cocoa farmers across the country feeling betrayed and demanding a more equitable distribution of the profits from the lucrative global cocoa trade.
This frustration underscores the ongoing tension between Ghanaian cocoa farmers and the regulatory body. While COCOBOD seeks to balance farmer income with other factors, the farmers themselves feel they are not getting a fair share of the profits generated by their hard work.
