Controversy Brews Over Ghana's 63.6% Cocoa Price Increase as Social Media Users Express Dissatisfaction

In a recent announcement by President Akufo-Addo, Ghana's cocoa farmers were promised a significant boost in income with a 63.6% increase in the farm-gate price of cocoa beans. The news, however, has ignited a heated debate on social media, particularly on Facebook, where many users voiced their displeasure, arguing that the increment falls short of matching international market prices.

President Akufo-Addo announced on September 9 during the opening of the 2023/2024 cocoa season in Tepa, Ashanti Region. He proudly stated that this adjustment marked the most substantial increase in cocoa prices in West Africa over the last 15 years.

Despite the president's optimism, social media users took to Facebook to express their discontent. Many believed that the government should have gone further in raising cocoa prices, given the substantial profits it garners from cocoa sales on the international market and the free on board (FOB) prices.

One Facebook user, Rahim Sterling, commented on the Good Morning Ghana show on Metro TV, accusing the government of shortchanging cocoa farmers. Sterling argued that the government's revenue from FOB prices could have enabled a more significant increase, and he labelled the offered raise as a mere "peanut" for the farmers.

He said, “the govt is earning enough revenue from the FOB price and they are cheating the poor farmers by offering them a peanut of the money.”

Another commenter, Christian Ofei-Tenkorang, who participated in the morning show on Oman FM, suggested a more hands-on approach. He proposed that the government, through the Cocoa Board, should visit cocoa farming communities to directly engage with farmers. Ofei-Tenkorang emphasized the importance of explaining the new pricing structure in straightforward terms to ensure the farmers' complete understanding and support.

He said “The farmers are not interested in the calculations you guys are doing on air about the cocoa issue. Go on the ground and explain in simple terms to the farmers.”

In response to these concerns and criticisms, the Chief Executive Officer of the Cocoa Board (COCOBOD), Mr. Joseph Boahen Aidoo, issued a statement on September 12. In the statement, Mr. Aidoo provided context for the cocoa price increase. He explained that the cocoa crop for the 2023/24 season was sold between October 2022 and March 2023 at international prices ranging from $2,200 to $2,400 per tonne. According to Mr. Aidoo, this means that a significant portion of the 2023/24 crop had already been sold when international cocoa prices started to rise in April 2023.

The statement from the COCOBOD CEO aimed to reassure the public that the government's pricing decisions were not unjust. Instead, they were based on the timing of international price fluctuations and the circumstances surrounding the sale of the cocoa crop.

As the debate continues to unfold on social media and in the public sphere, Ghana's cocoa farmers are looking to the government for clarity and reassurance regarding their income prospects for the upcoming cocoa season.