Ghana Cocoa Farmers and Clerks Count Losses After Price Reduction
Some cocoa purchasing clerks and farmers in the Upper West Akyem Municipality say they are facing serious financial losses following the government’s recent reduction in cocoa prices. The clerks explained that delays in the release of funds from the Ghana Cocoa Board forced many of them to take bank loans to buy cocoa beans from farmers. Because a portion of the beans was purchased at the previous price, they now fear they will struggle to absorb the difference and repay their loans under the new pricing structure. According to them, the situation has created growing tension in several farming communities. Some farmers have reportedly refused to sell their cocoa at the current price, arguing that it does not reflect the cost of production. The concerns were shared with journalists during a press conference held in Koforidua, where both clerks and […]
