The Board Chairman of COCOBOD, Dr. Samuel Ofosu-Ampofo, says an urgent tripartite meeting will be convened to ensure the timely release and protection of funds meant for cocoa farmers.
He was reacting to concerns raised by farmers over delays in the payment of a recently announced and allocated GHC4.2 billion intended for them through the license buying companies.
The Dr Ofosu-Ampofo, together with other government officials, toured some cocoa growing communities in the eastern region. The purpose of the visit was to brief farmers on recent developments in the cocoa sector and to listen to their concerns.
The teams first stop was the Bosuso warehouse, where slashers and pruners procured by the previous regime at a cost of 10 million US dollars have been left unused and are reportedly no longer fit for purpose.
The Deputy COCOBOD CEO Dr. James Kotsoati provided explanations regarding the situation.
” The initial ones were shorter, so they could not even get to the top to prune. So, they recommended we bring longer ones. These are the longer ones that came in, but very heavier for the farmers to carry on their back, so they could not use it. We have the idea that about $100 million were used.
Dr Ofosu-Ampofo described the investment as wasteful and a burden on the state.
“This are some of the legacies that we have come to inherit, and today the cocoa farmer is at the receiving end. 100 million US dollars can be used to do a lot. The rest given to the cooperative farmers are lying there fallow not being used. This is financial loss, we are supposed to pay” he lamented.
During separate engagements with cocoa farmers at Osiem, Kwabeng, and Asamankese, the farmers welcomed COCPBOD’s explanations on the recent challenges facing the cocoa sector, causing reduction in cocoa price from 3,600 to 2,587 per bag.
However, they insisted that the recently announced funds meant for them had still not been received.
The 2024 National best farmer, Abraham Kwaku Adusei said, “We fully support government decision on the slashed prices, we know good times would return. We only plead with COCOBOD to ensure we receive our monies for the bags of cocoa taken. We need to take care of the needs of our dependants.”
Dr Ofosu-Ampofo assured the farmers that steps would be taken to facilitate the immediate release of the funds.
“Government has kept faith with the farmers, prices won’t be reduced further. We are still paying about 122 percent of the current FOB price. COCOBOD released a total of 4.2 billion to the LBC’s. We are going back to the drawing board to convene a meeting with the Banks, LBC’S and COCOBOD to fashion out a system,” he said.
He added that measures would also be introduced to ring fence such funds in the future to prevent further delays.
“We are being told some LBC’S owe the banks and so the banks are swallowing the monies of the farmers. That is most unfortunate, monies meant for the farmers for cocoa purchases and purchasing of cocoa left over must be used for that purpose,” he said.
By Yvonne Neequaye
