COCOBOD Blasts Mahama Over New Cocoa Price Criticism

The Ghana Cocoa Board (COCOBOD) has lashed out at former President John Dramani Mahama for criticizing the government’s decision to increase the price of a bag of cocoa to GH₵1,300.

Mahama had described the government as “insensitive” to the plight of farmers, saying that the increase was not enough.

In a statement on September 12, COCOBOD CEO Joseph Boahen Aidoo said that Mahama should be familiar with the process for determining the producer price of cocoa.

Aidoo explained that the 2023/24 crop was sold between October 2022 and March 2023 at international prices ranging from $2,200 to $2,400 per tonne.

“Since you have had the privilege of being in government before as the number one gentleman of the country, it is expected that you would be familiar with the process for determining the producer price of cocoa.

“I am, therefore, surprised that you chose, rather erroneously, to use the current international market price of cocoa at $3,600 per tonne as the basis for your calculation in your post on the recently announced producer”.

COCOBOD explained that the 2023/24 crop was sold between October 2022 and March 2023 at international prices; ranging between $2,200 per tonne and $2,400 per tonne.

“You are fully aware that Ghana’s cocoa beans are mostly sold forward. This means that the 2023/24 crop was sold between October 2022 and March 2023 at international prices; ranging between $2,200 per tonne and $2,400 per tonne. The international price of cocoa then began to increase in April 2023, when a greater percentage of the 2023/24 crop had already been sold,” COCOBOD said in its statement.

 

 

 

 

 

 

 

 

 

 

 

 

 

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