64% increase in cocoa price woefully inadequate – GNACOF

The Ghana National Association of Cocoa Farmers (GNACOF) has described the 64 percent increase in the producer price of cocoa announced by the government as woefully inadequate and that farmers will likely continue to smuggle cocoa to Ivory Coast where prices are higher.

GNACOF President Stephenson Anane Boateng said the government needs to do more to discourage smuggling, which is a major problem in the cocoa sector.

“The price in Ivory Coast is GH¢1,450 per bag, and if our government increases our cocoa price to GH¢1,308, then we are nowhere,” Boateng said. “People will continue to smuggle their cocoa just because the price compared to even the previous one is not up to their level.”

Source: citibusinessnews.com