Hon. Ato Forson, the newly appointed Finance Minister, has made a bold promise as his first action in office.
He announced his intention to raise the price of cocoa from GHC 3,100 to GHC 6,000 per bag.
This move aims to improve the lives of cocoa farmers and boost the sector that significantly contributes to Ghana’s economy.
Speaking to stakeholders, Hon. Forson said, “Cocoa farmers are the backbone of our economy.
It is time we recognize their efforts by paying them what they truly deserve.
Increasing the price to GHC 6,000 per bag will uplift their livelihoods and inspire more investment in the sector.”
Cocoa farmers across the country have expressed relief and optimism. Kwame Mensah, a farmer from the Western Region, said, “This is a dream come true for us.
We’ve struggled with low prices for too long, and this increase will help us take care of our families and improve our farms.”
However, some financial experts have raised concerns about the feasibility of such an increase.
Dr. Mary Oppong, an economist, noted, “While this promise is good news for farmers, the government must ensure that the national budget can support it.
If not handled well, it could create a financial imbalance, especially if global cocoa prices fluctuate.”
Hon. Forson addressed these concerns, assuring the public that the government has a sustainable plan to implement the new price.
He explained, “We have carefully analyzed the numbers, and we are confident this decision is both achievable and necessary.
Our cocoa sector cannot thrive if our farmers are left struggling.”
The cocoa sector is a critical part of Ghana’s economy, employing millions and contributing significantly to foreign exchange earnings.
Stakeholders believe that higher prices will motivate farmers to increase production, thereby boosting the sector further.
Despite the optimism, some analysts remain cautious.
“The increase in price is commendable, but it must come with proper management of funds and support for farmers to handle rising costs,” said Peter Asare, a policy expert.
Hon. Forson’s promise is being closely watched by Ghanaians and international observers.
If implemented, it could mark a turning point for cocoa farmers and set a strong precedent for prioritizing the welfare of agricultural workers.
