The World Cocoa Farmers Organization (WCFO)-Ghana has commended COCOBOD for raising the producer price of cocoa for the 2020/2021 season.
Please read the full statement below:
WORLD COCOA FARMERS ORGANIZATION (WCFO), GHANA
PRESS RELEASE ON INCREASE IN COCOA PRICE FOR THE 2020/2021 SEASON.
The leadership of The World Cocoa Farmers Organization (WCFO), Ghana Chapter, would like to commend COCOBOD and for that matter the Government of Ghana on the producer price increment for the 2020/2021 season. The new price of GH₵660 per bag of 64kg is indeed a welcome news to all cocoa farmers as it will boost the morale of farmers and improve our earnings.
The WCFO has, since 2019, followed with keen interest the collaborative efforts the government and for that matter COCOBOD have put in at intervening in the pricing regime through the Living Income Differential (LID) proposed by the governments of Ghana and Cote d’ Ivoire to ensure cocoa farmers earn improved incomes for improved livelihood.
We, the producers of cocoa are highly impressed by the high level of commitment and tenacity to confront the Cocoa Industry and all stakeholders to come to terms with this novelty approach. We also note with satisfaction that the promise to transfer all the gains of $400 in the Living Income Differential to farmers has been honored and this indeed is commendable.
The WCFO also notes with appreciation the cooperative stands of other stakeholders, particularly the Manufacturing sectors to ensure farmers secure some level of decent income and reduce the negative effect of price volatility. It is our hope that this would be sustained and improved upon so as to make cocoa production attractive to the youth as a business venture.