Sefwi Bekwai Cocoa Farmers have voiced their frustrations over government pricing policies, which they claim are driving them into the hands of smugglers.
Speaking on ABC IN THE MORNING on Wednesday, Issifu Issaka, President of the Sefwi Bekwai Cocoa Farmers Cooperative Union, condemned the government’s handling of cocoa pricing, stating that farmers receive less than promised.
“If you have a president that says they will pay 70% of gross FOB to farmers, and at the end of the day, what farmers get is not even up to 50%, then it is unfortunate,” Issaka expressed.
The unstable financial conditions have left many cocoa farmers with no choice but to sell to smugglers, who offer better prices than the government.
Issaka further highlighted that even neighboring Côte d’Ivoire has abandoned the “same pricing principle” with Ghana, choosing to adapt to higher international prices.
He remarked, “They realized that going by that system wouldn’t help them.”
At a press meeting, Dr. Joseph Boahen Aidoo, CEO of COCOBOD, acknowledged the gravity of the situation, revealing that Ghana lost 120,000 metric tons of cocoa to smuggling between 2022 and 2023.
He attributed this to the soaring world market prices, which have risen dramatically in the last year.
Despite a recent 129% increase in the producer price of cocoa in Ghana, many farmers still feel that the government has not done enough to shield them from financial hardship.
