Stop The Excuses & Increase Producer Price Of Cocoa Now -Minority Caucus

Dr. Isaac Opoku Addresses Media on Cocoa Prices

The Minority Caucus in Parliament is concerned about cocoa prices. Dr. Isaac Opoku, MP for Offinso-South, leads the group. They held a news conference in Kumasi yesterday.

The caucus questioned why the NDC government has not raised cocoa prices for 2025/2026. Two letters from Ghana COCOBOD, dated April 8 and 9, 2025, have conflicting reasons for this decision.

Dr. Opoku stated that the government's stance raises many questions. He asked why there is no price adjustment despite market conditions. He believes the government is breaking its promise to pay farmers 70% of the Free On Board (FOB) price.

This promise contrasts with the NDC's manifesto and their commitment to pay GHC6,000 per bag. Farmers trusted these promises and voted for the NDC, so they deserve an increase now.

Dr. Opoku disputed COCOBOD's reasons for not raising prices. He noted that a producer price review committee already exists and should be used. The Board of Directors of COCOBOD cannot use its formation as an excuse.

As of February 2025, COCOBOD had purchased over 560,000 tonnes of cocoa worth nearly US$3 billion (GHC45 billion). Dr. Opoku argued that the government should not hide behind COCOBOD’s debt to deny farmers their fair share.

He questioned what operational challenges prevent COCOBOD from increasing cocoa prices. Recent price hikes in La Côte d'Ivoire have created a significant disparity between countries.

The Ivorian government raised cocoa prices from CFA 1,800 to CFA 2,200 per kilo—a rise of 22.24%. This change means Ivorian farmers now receive GHC3,635 per 64kg bag—GHC535 more than Ghanaian farmers.

This stark difference incentivizes smugglers to divert Ghanaian cocoa across the border. Dr. Opoku warned that farmers might sell their farms for illegal mining due to rising gold prices.

He urged the government to take immediate action on this pressing issue. He emphasized that this is not just an economic decision but also a matter of national security and agricultural heritage preservation.