COCOBOD seeks LI to back new cocoa floor price


The Chief Executive Officer of Ghana Cocoa Board (COCOBOD), Mr. Joseph Boahen Aidoo, has said they are seeking Legislative Instrument (LI) to back the new cocoa floor price set by Ghana and Cote d’Ivoire, the two leading producers of cocoa.

This is to ensure that the new policy is maintained, by successive governments. He explained that if a new administration takes over, and the policy is not backed by law, the possibility of changing the existing policy direction would be easy.

If this should happen, he said it could possibly affect the fortunes of the cocoa sector and the cascading “effect will be on our farmers and the country as a whole.”

Ghana and Cote d’Ivoire met in Accra, last month, to deliberate and announced a new cocoa producer price for the purchase of the 2020/2021 crop season.

Speaking on Oyerepa FM “Breakfast Show” the COCOBOD CEO, observed that the floor price was purposefully designed to suit the welfare of the cocoa farmers and maximizing yield.

However, he wants the propaganda around the new proposed floor price to end forthwith, since it, could imperil its intended plan.

“We are very much determined to change the old trend in negotiating for the global processors and marketers for the floor price of the cocoa bean.”

He was also expressed surprise at the pronouncements of the former President, John Dramani Mahama,’ that the current government is worsening the plight of farmers in the country.

He said, during his regime, all local cocoa processing companies suspended their operations, simply because, they were not given the beans to enable them to produce locally.

“As we speak, about 40 percent of the beans are supplied to them and these Ghanaian companies are really making a profit,” he stated.

Audio- Mr. Joseph Boahen Aidoo

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