Jerome Sam, Head of Public Affairs at the Ghana Cocoa Board (Cocobod), has said that it has maintained its cocoa producer price despite declining international cocoa prices, with authorities citing concerns over farmers’ incomes and livelihoods as the primary reason for the decision.
He revealed that the government opted against reducing the producer price to shield cocoa farmers from further financial hardship after a difficult year for the sector.
Speaking on Joy News’ PM Express on Monday, Sam said producer price announcements follow a long-standing industry practice, with prices typically set at the start of the cocoa season and reviewed during the light crop season.
“This is a conventional thing, and it has been a practice all this while,” he said.
Sam acknowledged that the current season had been marked by unusual market conditions, prompting authorities to review cocoa prices earlier this year.
According to him, the decision to maintain the current producer price was not based on prevailing international market trends, which would have supported a downward adjustment.
“If we are to consider what is prevailing on the international market, then of course the price would have gone down again,” he said.
He noted that neighbouring Côte d’Ivoire adjusts cocoa prices in response to fluctuations in global markets, but Ghana chose to prioritise farmer welfare.
“The farmer has already been hit, so we need to make sure that the prices remain unchanged,” Sam said.
He said government considered the income levels and welfare of cocoa farmers when making the decision, seeking to prevent another financial setback before the end of the season.
“What basically went into the price being unchanged, government took into consideration the income levels of the ordinary farmer,” he said.
Sam added that authorities are attempting to strike a balance between protecting farmers and ensuring the long-term sustainability of Ghana’s cocoa industry, a key contributor to the national economy.
“Inasmuch as we are protecting the farmer, we are also ensuring a sustainable sector,” he said.
He said any future decisions regarding cocoa pricing would be communicated after the season concludes, following further assessment of market conditions and the industry’s sustainability needs.
“I can tell you that the government was largely very concerned about the income and livelihood of the ordinary cocoa farmer,” Sam added.
Source: myjoyonline.com
