Cocoa pricing: Farmer share must reflect global market value – George Oduro

Speaking to Isaac Addae on Morning Starr on Starr FM, Mr Oduro argued that the 70% share allocated to cocoa farmers should be reflected in the producer price, particularly given prevailing international cocoa prices and the rising cost of production.

Mr Oduro said the calculation should take into account the prevailing international cocoa price, the applicable LID and the exchange rate used in determining the value of cocoa.

He said calculations based on the Bank of Ghana’s exchange rate and a minimum international cocoa price of about $5,500 per tonne indicate that the amount reaching farmers is inadequate.