The Minority Chief Whip in Parliament, Frank Annoh-Dompreh, has revealed that government may be considering another reduction in the cocoa producer price, citing information gathered by the Minority Caucus.
According to the lawmaker, indications available to the Minority suggest that authorities could soon announce a new adjustment to the cocoa price paid to farmers, a move that could further heighten concerns within the cocoa sector.
Mr. Annoh-Dompreh disclosed this while speaking on developments within the industry, warning that another reduction could have significant implications for cocoa farmers across the country.
The warning comes at a time when the sector is already grappling with tensions following a previous price cut announced by the Ghana Cocoa Board (COCOBOD), which sparked widespread criticism from farmers and industry stakeholders.
According to the Minority Chief Whip, the information available to them points to a possible downward review of the producer price if prevailing conditions in the international cocoa market persist.
He cautioned that any further reduction could worsen the economic challenges faced by cocoa farmers, many of whom rely heavily on the crop as their primary source of livelihood.