Cocoa farmers could be heading for deeper financial strain if government fails to act swiftly, former COCOBOD PRO Fiifi Boafo has cautioned.
He argues that the recently announced $5,040 per tonne producer price for the 2025/26 season does not reflect the reality of Ghana’s weakening currency, leaving farmers vulnerable.
Boafo, in a post on Facebook, explained that the price was calculated at an exchange rate of GH¢10.25 to the dollar. But since then, the cedi has slid to GH¢12 and is projected to average GH¢13 over the cocoa year.
“With these conditions, farmers should be receiving at least GH¢3,780 per bag. Instead, they’ve been handed a paltry increase of GH¢128, which simply cannot hold,” he stressed.
He recalled how, during the 2023/24 season, the previous NPP administration revised prices upwards when the cedi weakened, urging the current government under Finance Minister Ato Forson to follow suit.
Boafo also called out government over its earlier pledge to peg the producer price at GH¢6,000 per bag — a promise he says remains unfulfilled.
“To halt smuggling, ensure financial stability, and improve the welfare of our cocoa farmers, the government must act decisively,” he added.
Source: Wesleyannews.com
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