Africa-Press – Ghana. The Ghana Cocoa Board (COCOBOD) is embarking on a sensitization drive of cocoa farmers on cocoa producer price ahead of the closure of the 2024/2025 crop year at the end of July, and the opening of the 2025/2026 cocoa year, which is expected by the 2nd week of August 2025.
The sensitization drive, which aims to give a better understanding of how the producer price is calculated and the interplay of the US Dollar and the Ghana Cedi which has a strong impact on the fiscals of the cocoa farmer, gave background to the Producer Price Review Committee (PPRC) which takes into consideration a number of factors, including averaging the various world market prices sold through both forward and spot sales to arrive an achieved FOB which becomes the prevailing farm gate price.
Speaking at a gathering of traditional authorities, cocoa cooperative farmers representatives, assemblymen and general cocoa farmers at Sefwi Akontombra in the Western North region, Mr. Kenneth Osei Ampofo, Principal Public Affairs Officer of COCOBOD, explained that the 2024/2025 cocoa producer price was based on an achieved FOB of 63.9% translating into US$3100 at an exchange rate of GHC16.00 to US$1.00 culminating into GH₵49,600 per tonne comprising of 16 bags of 64kg of cocoa which sells at GHC3,100.00.
Mr. Osei Ampofo maintained that with the rising value of the cedi against the dollar where the bank of Ghana exchange rate of US$1,00 is GH₵10.40 , the achieved FOB of US$3100 currently translates into 32,240.00 which is a reduction from GH₵49,600.00 registering a shortfall of GH₵17,360.00 per tonne, a cost that is being borne by COCOBOD and the government of Ghana.
This indicates that per every bag of cocoa, an additional GH₵1,085 is added to shore up the price of a bag of cocoa to be maintained at GH₵3,100 which would have otherwise be reduced to GH₵2,015 bringing an extra cost to COCOBOD to ensure that the cocoa farmer is not short changed in the last few months that the valued of the cedi has gained strength against the dollar.
It is in this vein that Mr. Ampofo cautioned farmers to be modest in their expectations of the new producer price ahead of the opening of the 2025/2026 cocoa crop year.
He added, ‘Let us remain calm and wait for the outcome of the work of the PPRC in settling on a new price’, he concluded.
Nana Kwabena Ebi II, the Chief of Akontombra traditional area, who graced the occasion, entreated cocoa farmers to embrace the new price when it is announced by COCOBOD and government, and also concentrate on implementing the good agronomic practices being taught by the Cocoa Health and Extension Division (CHED) of COCOBOD to improve on their yields and subsequently increase their revenues.
Nana Kwabena Ebi II expressed optimism at the outcome of the cocoa farm rehabilitation programme, calling on farmers whose farms have been affected by the Cocoa Swollen Shoot Virus Disease (CSSVD) to constantly engage with the extension officers for the necessary support.
On his part, the DCE, Joseph Appiah assured the farmers that he would constantly engage COCOBOD and other authorities to realize the best opportunities for cocoa farmers in practicing their trade to ensure constant improvement in their field of endeavor.
He emphasized the need for all cocoa produced in Akomtombra to well accounted for by grading and sealing all within the district.
Mr Appiah noted that it was his duty to secure the best of opportunities for cocoa farmers and the entirety of the Akomtombra district.
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