The Minority in Parliament is voicing serious concerns regarding the persistent delays in payments to cocoa farmers, which have become particularly troubling in light of the recent reduction in producer prices for the commodity.
During a debate on the State of the Nation Address delivered by President John Dramani Mahama, Isaac Yaw Opoku, the Ranking Member on the Food, Agriculture, and Cocoa Affairs Committee, expressed frustration over the situation, calling it “unfair.”
The reasons being provided for the missed payments to cocoa farmers are numerous. While they initially promised GH₵6,000, the figure ended up being only a fraction of that. Though the producer price was raised from GH₵31,000 to GH₵36,000, payments have still not been made. Now, with the price slashed to GH₵2,587, farmers are still waiting for their dues,” Mr. Opoku stated.
He highlighted that the Ghana Cocoa Board (COCOBOD) currently owes Licensed Buying Companies (LBCs) more than GH₵11 billion. “At a rate of paying GH₵1 million each month, it will take over a year to settle the outstanding debts,” he added.
This critique from the Minority follows the government’s announcement of a release of GH₵855 million aimed at settling debts owed to cocoa farmers; however, the parliamentary caucus insists that farmers have yet to receive these funds.
Cocoa is a vital export for Ghana, and the ongoing payment delays pose significant risks to the livelihoods of farmers, especially amidst fluctuating global commodity prices and inflationary pressures.
The Minority is urging the government to act quickly to process payments to farmers while ensuring transparency in the distribution of cocoa revenues. They warn that ongoing delays could damage trust in COCOBOD and the overall cocoa industry.
These concerns have reignited discussions about the need for more effective management of cocoa pricing, timely disbursement of payments, and enhanced support for farmers, who play an essential role in Ghana’s economy.
