A survey conducted by Imani Ghana has revealed that 94 per cent of cocoa farmers are dissatisfied with the current producer price.
The survey, dubbed: “Exploring the revenue management and producer pricing mechanism within Ghana’s cocoa sector” also noted that 70 per cent of the farmers believe that the Ghana Cocoa Board (Cocobod) does not serve their interest.
“Results from the farmers’ survey revealed that 94 per cent of farmers are dissatisfied with the current producer price, 70 per cent indicate they do not know COCOSHE and 70 per cent believe that Cocobod does not serve their interest.
“It is equally important to note that regardless of the sentiments expressed by the farmers regarding the protection of their interest by Cocobod, they are equally of the view that Cocobod plays a significant role in the industry, and will want the regulator to continue in this capacity.
“Based on these results, there is the need for more farmer engagement on policy decision-making and implementation in order to change these farmer perspectives”, the report said.
Other stakeholders in the cocoa value chain also expressed concern about the corporate governance weaknesses in the sector, erratic supply of inputs, smuggling and supply of fake inputs; and the decrease in the margins of some stakeholders at the expense of others, when the industry experiences exogenous shocks.
The survey further revealed that: “The analysis of Cocobod’s financial data suggests that profitability, liquidity, efficiency or turnover and cash flow ratios have deteriorated over time, with marginal improvements in some areas in the 2017/18 financial year”.
“The results of the study provide a strong basis for actions that should involve all stakeholders across the value chain with the intention of addressing the weaknesses in the sector.”