INTRODUCTION: The Ghanaian government announced on Saturday (4 June) that it is raising the producer price of cocoa by almost one third.
INTRODUCTION: The Ghanaian government announced on Saturday (4 June) that it is raising the producer price of cocoa by almost one third. The announcement was made by the country's leader, General Ignatius Kutu Acheampong, at a farmers' rally in Cape Coast, western Ghana. The rally marked International Cocoa Day celebrations.
SYNOPSIS: General Acheampong's announcement means the seventh cocoa price increase in Ghana since the ruling Supreme Military Council seized power in 1972. Ghana has also raised the price of its coffee by nearly a half. The government have been diversifying the country's agriculture but are keen to obtain the maximum benefit from the cocoa industry.
General Acheampong presented a medal at the farmers' rally to Mr. Edward Manu Boafo for his work in crop pest control. Ghana's attempts at improving cocoa production have been linked to research for reducing the amount of crop disease. General Acheampong told the farmers that Ghana's cocoa industry had lagged behind its international competitors in recent years. Ironically, he said the industry's decline came at a time when cocoa prices were high on the world market and increased production would greatly help the Ghanaian economy. The General announced that the government had authorised the cocoa Marketing Board to set up cocoa plantation farming in Ashanti and western regions.
Ghana's future development is very closely linked to the cocoa industry. Increased production is vital if the country is to overcome its threatened economic decline.