I’ll prioritise welfare of cocoa farmers – Akufo-Addo assures

President Nana Addo Dankwa Akufo-Addo has reaffirmed his commitment to developing a resilient cocoa industry that prioritises the welfare of cocoa farmers.

He made the comments during the official opening of the permanent office of the Cote d’Ivoire-Ghana Cocoa Initiative in Accra.

Underlining his government’s accomplishments President Akufo-Addo stressed that his administration has instituted the highest cocoa producer price in the nation’s history.

“In 2019, Ghana and Cote d’Ivoire met in Accra where we held a dialogue on an important subject, which was critical to the survival of the global cocoa industry supply chain. That meeting, culminated in the adoption of a living income deferential for cocoa producers in the two countries which involves the additional payment of cocoa farmers of $400 per ton on the world market price for every cocoa sold by the two nations effective by the 2020/2021 season.

“The international cocoa market justifies our course of action. What we thought was impossible only two years ago is happening now,” he stated.

However, President Akufo-Addo also stressed the critical need for collaborative efforts between Ghana and Cote d’Ivoire to address the myriad of challenges confronting the cocoa industry.

“However, with the current peak in market prices, a new set of challenges has emerged necessitating a revision of the research approach to sustain or prevent a decline in prices. This underscores the importance of this organisation for the two countries to devise new strategies to address the evolving market dynamics,” he stated.