45% Increment In Cocoa Price Is An Insult To The Intelligence Of Farmers – CYCFAG Petition President Akufo-Addo

The Coalition of Young Cocoa Farmers Association of Ghana (CYCFAG) has petitioned the President of the Republic, H.E. William Nana Addo Dankwa Akufo-Addo, over the recent cocoa producer price increment for the 2024/25 season.

On Wednesday, September 11, 2024, the government announced that a bag of 64 kg gross weight cocoa would be bought for GH₵3,000, marking the highest purchasing price in the history of the cocoa industry.

This represents a 45 percent increase from the last price increase, which was GH₵2,070.

 

 

However, CYCFAG criticized the new price, calling it a disservice to farmers.

In light of an upsurge in cocoa prices globally, the CYCFAG members argue that farmers should be offered more.

The recent hike in cocoa prices was described as an insult to the toil of cocoa farmers in the petition observed by MyGhanaMedia.com, which also urged the government to act morally by giving the farmers a fair price.

“The preceding market price has brought serious dissatisfaction among farmers, which does not only endanger the security of this nation but also threatens the livelihood of millions who depend on the cocoa industry in Ghana. The cocoa sector is the backbone of Ghana’s economy, providing employment and income for Ghanaian citizens. However, the current price does not reflect the true value of cocoa, nor does it adequately compensate farmers for their labor, inputs, and risk”.

They also outlined some of the difficulties that cocoa farmers encounter and issued a warning that if nothing is done to address the issue, farm investment and productivity would decline.

 

See the full petition details below.

 

 

 

 

 

 

 

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