Former Member of Parliament for Sefwi-Wiawso, Dr. Kwaku Afriyie, has called for a broader national conversation on cocoa value addition, urging government to ensure that market forces operate effectively while Ghana maximises returns from its cocoa industry.
Speaking in an interview on Adom FM’s morning show Dwaso Nsem, Dr. Afriyie said discussions about value addition must be carefully interrogated rather than accepted at face value.
“They should make sure market forces work properly. They should bring everything on board for us to discuss,” he stated.
According to him, global market dynamics, including the role of speculators significantly influence cocoa pricing and must be factored into policy decisions.
“Already there are speculators in the market. That is one area we need to work on,” he said.
Dr. Afriyie further pointed to the dominance of a few multinational companies in the global cocoa trade.
“There are about seven major companies in the world controlling the industry, and that is where much of the money goes. It is a $40 billion industry, yet Ghana and Côte d’Ivoire, at the end of the cocoa season, do not get more than $7 billion,” he argued.
While government has disclosed value addition and local processing as a solution, Dr. Afriyie urged caution.
“They say value addition and want to process more cocoa locally. We need to interrogate that,” he said. “If you concentrate only on cocoa butter and cocoa powder and you are not careful, we may not get the expected returns.”
He questioned the actual benefits of processing a portion of Ghana’s cocoa domestically.
“About 40 percent of cocoa is being processed here. What value has it truly brought us?” he asked. “Those in the industrial enclaves, cocoa processing companies and free zones should examine how much value has actually been added.”
Dr. Afriyie also noted that Ghana’s cocoa is globally recognised for its premium quality, suggesting that in some cases exporting raw beans may even yield better returns than limited value-added processing.
“Ghana produces quality cocoa. Sometimes, depending on market conditions, you may realise that exporting the beans could bring in more value than processing them under certain arrangements,” he explained. “It is a very difficult issue.”
His comments come at a time when the government maintains that the revised cocoa producer price is a necessary response to global market fluctuations and inherited liabilities, even as pressure mounts from sections of cocoa-growing communities demanding relief.
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