Ghana Cocoa Industry Has No Future – GNACOFA

The Ghana National Cocoa Farmers Association (GNACOFA) has learnt that, the cocoa industry in Ghana is not in their interest and have a bleak future.

According to them, the 2019 report on the global cocoa industry, the chocolate industry alone earn a whooping $130 Billion, out of this amount, the Manufacturers earn 35% and Retailers 45%. However, Farmers earn a meagre,less than 7% and this amount is for the cocoa beans only.

Speaking at the 3rd Annual Cocoa Farmers Conference at Tarkwa in the Western Region, they said, the princing of the beans does not include the labour of the Cocoa Farmer. Meanwhile, Employees of Cocobod like Purchasing Clicks, Depot Keepers, Port Officers, Quality Control Officers and others all take their salaries from this farm gate price and enjoy admirable living standards. They have very good and well structured welfare packages like pension and health care and bonuses, can this also be said of the farmer who toils to produce the golden beans which others are enjoying?.

They added, the recent producer price of cocoa, GHS 800.00 per bag which on the world market sells at GHS2,400.00 now 5 litres of common cooking oil sells for GHS1,200. For the last three years it has been estimated that the cost of production in the cocoa sector has seen the following increases: Labour -51%, fertilizers- 203% and Agrochemicals -43%. Household Expenditure has equally increased: Food – 50% , Education – 60% and Transport -104%.

They said, the recent producer price is woefully 23.3% over the previous one and this price could stay for 2 years .