The Supreme Consultative Council of the Ghana Cocoa Board (COCOBOD), says that cocoa smuggling can be reduced by as much as 80 per cent if a new pricing arrangement proposed by COCOBOD takes effect.
The producer price is currently set at GH¢3,100 per 64kg bag, marking a marginal increase of 0.03 per cent compared to the previous rate announced in September for the 2024/2025 crop season.
The adjustment, which equates to GH¢49,600 per tonne, aims to align cocoa prices with prevailing market conditions and provide much-needed support to Ghanaian cocoa farmers.
The Chairperson of the council, Isaac Ansah, said this was because the planned price adjustment, potentially higher than what was currently offered in neighbouring Côte d’Ivoire, would drastically curb the incentive for illegal cross-border trade.
“If the price goes high, maybe even more than what Cote d’Ivoire is offering, the issue of smuggling, if not taken away, will reduce by more than 80 per cent,” the report by the Daily Graphic quoted Mr Ansah as saying on the sidelines of the Workers’ Day (May Day) celebrations last Thursday at the Black Star Square in Accra.
GIK/APA