COCOBOD postpones launch of Cocoa Farmers Pension Scheme

The Chief Executive of Ghana Cocoa Board, Joseph Boahen Aidoo, has in his annual Cocoa Day message postponed the launch of the widely anticipated Cocoa Farmers Pension Scheme till further notice.

“[The] Government of Ghana had given an earlier indication to launch the operation of a Cocoa Farmer Pension Scheme today, 1st October 2020, as part of the opening of the 2020/2021 Cocoa Season.

However, due to wider consultation and due diligence being carried out by the National Pensions & Regulatory Authority (NPRA), the official launch has been postponed for a short while to enable the Authority to complete its work”, a statement by the cocoa regulator copied to Cocoa Post read.

Meanwhile, the new cocoa Producer Price for the 2020/21 cocoa season as announced 24th September 2020 by Ghanaian president Nana Addo Dankwa Akufo-Addo takes effect on the official commencement of cocoa purchases 2nd October.

“The producer price to be paid at all buying centres is three hundred and sixteen Ghana Cedis, eighty Pesewas (GH?316.80) per load of 30 kilograms for Grade I and II cocoa beans naked ex-scale or Six Hundred and Sixty Ghana Cedis (GH?660.00) per bag of 64 kilograms gross”, according to COCOBOD.

“The price increase is a clear demonstration of Government’s commitment to use ingenuity to improve the livelihood of farmers amidst the Covid-19 pandemic which has negatively affected incomes of many across the world including our cherished cocoa farmers”, Chief Executive Joseph Boahen Aidoo observed.

The release signed by Mr Boahen Aidoo also said the board had made gains in the quest to increase the capacity of local processing of cocoa which is “currently hovering around 40%”, 10 percent shy of the pledged 50%.

The Ghanaian Cocoa authority encouraged every Ghanaian, as a healthy lifestyle, to consume cocoa daily for better health.

“While this Government continues with its efforts to implement policies that will help improve and sustain the cocoa industry, we as a people need to take advantage of the numerous health and nutritional benefits that come with the daily consumption of cocoa”, the Cocobod boss advised.

Ghana has since 2005 observed 1st October every year to recognise the important role that her hardworking farmers continue to play in the sustenance of Ghana’s Cocoa industry, and to motivate them to do more in enhancing their livelihoods and to grow the cocoa economy.

The Cocoa Day is also intended to intensify the awareness on the health and nutritional benefits of cocoa and to promote its consumption among Ghanaians.

This year is the second time since 2005 that this important day on the calendar of the Cocoa industry has not been observed with a durbar, after 2014 when the Ebola outbreak in West Africa forced a cancellation of the celebration.