Ghana’s Initiative to Bring Cocoa Price Down is in Right Direction: MP
Ghana’s Initiative to Bring Cocoa Price Down is in Right Direction: MP
The government's decision to slash the cocoa producer price from $330 to $235 per 64 kg bag for the remainder of the 2025/2026 season underscores the need for Ghana to diversify beyond its historical dependence on a single commodity, Kwahu Afram Plains MP Kpeli Worlase told Sputnik Africa.
Worlase cautioned that commodities cannot indefinitely sustain a national economy, noting that cocoa does not solve all societal challenges and that overdependence on a single crop carries inherent risks.
Ghana's prolonged reliance on cocoa has left the domestic economy vulnerable to the current global price downturn, he added.
Price adjustments are sometimes unavoidable unless the state chooses to subsidize cocoa as a social intervention, Worlase noted.
Pegging cocoa prices at a sustainable level will protect both farmers and the broader economy in the long term, the MP said, acknowledging that such measures, though difficult, represent a necessary step forward.
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