The Finance Minister-designate, Dr Cassiel Ato Forson, has pledged to revitalize the cocoa sector through collaborative efforts with the Ghana Cocoa Board (COCOBOD).
Speaking during his vetting before the Appointments Committee of Parliament, Dr Forson emphasized the need to protect cocoa farmers in their fields and provide incentives to ensure smooth production.
“I have always been fighting for cocoa farmers, therefore, I will continue to advocate for their wellbeing,” he added.
Currently, the cocoa farmgate price has been raised to GH₵49,600 per metric ton for the 2024/25 season, aiming to support cocoa farmers and boost their incomes.
This increase aligns with Côte d’Ivoire’s pricing strategy and seeks to enhance cross-border trade flows within the West African region.
However, he called for improved cocoa farmgate prices to cover the costs of production, improve living standards, and reduce poverty in cocoa-growing communities.
When asked about the producer price window, Dr Cassiel Ato Forson said the cocoa sector has been moved to the Ministry of Agriculture hence he does not have any power to state cocoa producer price, but rather work hand-in-hand with the ministry.
“I will mobilize the needed funds to support cocoa farmers and the sector when appointed as Minister for Finance,” he said.
The Finance Minister-designate noted that the cocoa sector is a major employer in the country, hence, it was prudent to ensure its effective production.
Ghana is the second-largest exporter of cocoa beans in the world, after Côte d’Ivoire, which accounts for about one-third of the global supply.
