Ghana’s Cocoa Season For 2007/2008 Opens

The Deputy Minister for Finance and Economic Planning, Hon Gyan-Baffour today opened the 2007-2008 Cocoa seasons with the assurance that government would continue to support the sector to ensure it achieves its maximum potential.

'I am delighted to say that for  the past seven years since the current administration assumed office we have in collaboration with Ghana Cocoa Board put in place measures aimed at increasing production', he noted.

The Deputy Minister who was speaking at a press briefing in Accra said Government appreciates the enormous contribution of the cocoa sector to the general economy in terms of its contribution to the growth in Gross Domestic Product
(GDP), foreign exchange earnings, and poverty reduction, among others.

He observed that policy initiatives vigorously pursued by government over the period included among other things remunerative producer prices and payment of bonuses, effective diseases and pest control exercise, improving the agronomic practices on cocoa farms.

These increases, Prof Gyan-Baffour said, have almost doubled the production of cocoa since the 2000/2001 crop season and affirmed Ghana's position as the second largest producer of cocoa in the world. He said that since 2003/2004 cocoa season when cocoa reached record output of 736,199 tonnes production level, it has not fallen below 600,000 metric tones.

He said producer prices have also increased nearly three fold since 2001, and has ensured that farmers were paid decent prices, saying that farmers currently enjoy over 70 percent of the net Free On Board (FOB) price or ¢ 9.15 million per metric tonnes from ¢3.475 million in 2001.

On bonuses, the Deputy Finance Minister said farmers have been paid five times within the same period, all aimed at providing incentives to cocoa farmers, and gave the assurance that government would not relent on its promise to ensure that the living conditions of the ordinary Ghanaian farmer is improved.

He stressed that Ghana would not compromise on the quality of her cocoa beans and that the government would do everything possible to maintain the high quality of its cocoa.

Chief Executive Officer (CEO) of Ghana Cocoa Board, Isaac Osei, assured that the $ 900 million raised from International financial institutions for purchasing operations would be used judiciously.

Hon Oboshie Sai Cofie, Minister for Information and National Orientation who chaired the function assured of her Ministry's support with educational campaign on banned pesticides.