The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr. Ransford Abbey, has assured cocoa farmers that they are receiving a fair price for their produce under the current pricing regime.
Speaking on Asempa FM’s Ekosii Sen show, Dr. Abbey attributed the current farmgate price of GH¢3,228 per bag to the strong performance of the Ghana cedi, which has influenced local pricing positively.
He dismissed concerns that farmers have been shortchanged, stating that the pricing is aligned with government commitments and prevailing market conditions.
“The NDC government promised 70% of the Free on Board (FOB) price for cocoa farmers. The farmer’s share has increased from $3,100 to $5,040. Although global cocoa prices have dropped below $8,000, the strong cedi has influenced the local price,” he explained.
Dr. Abbey emphasized that the exchange rate plays a critical role in determining farmgate prices and reiterated COCOBOD’s commitment to protecting the interests of cocoa farmers.
“We haven’t shortchanged farmers. The cocoa farmers are getting GH¢3,228 because of the good performance of the cedi,” he stressed.
Source: Farida Seidu | Adomonline
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