FEDCo presents GH¢16 million premium to licensed cocoa-buying companies

Federated Commodities Limited (FEDCo), a licensed cocoa buying company last Thursday presented a cheque for GH¢16 million as premium to certified cocoa farmers for the 2022/2023 crop season at Assin Fosu in the Central Region.

The premium is to encourage the famers work hard towards in­creasing production and also adopt best farming practices. It forms part of the company’s corporate social responsibility.

As part of the disbursement, each farmer from selected cocoa districts would receive GH¢50 per a bag.

However, cocoa farmers from Asankragua and Samreboi, would receive GH¢64 per bag as premi­um.

The company paid 30 per cent of the amount due each cocoa farmer through mobile money transaction, while the 70 per cent would be done through cash payment.

Mrs Maria Adamu-Zibo, Man­aging Director of FEDCo, made this known at the official premium announcement at Assin Fosu in the Central Region.

She indicated that the company together with its partners since 2012, had disbursed GH¢ 150 mil­lion in a number of communities on projects and cash premiums.

“This year alone, we have sup­plied 20,000 MT of sustainable beans to our clients and trained over 27,000 farmers,” she said.

The company, Mrs Adamu-Zibo indicated, had embarked on several projects including supply of shade trees, farm inputs and tricycles to some communities, saying, “We have also piloted farmer trainings in soap making, grass cutter rearing and demonstration plots”.

She also called on the govern­ment and stakeholders to create an enabling environment for the growth of the cocoa sector.

“The youth need to see farming as a business opportunity, where they can chose to farm or engage in auxiliary services such as labour support, inputs supply, alternative cocoa farming methods, organic cocoa, cocoa processing and trans­formation,” she stated.

She admonished cocoa farmers to adopt good agricultural practic­es and also protect the soils from degradation.

Nuruddin Essilfie, Head of Sustainability at FEDCo, indicated that the company had embarked on other sustainability programmes such as afforestation, accessible soil and sustainable environment project, child labour monitoring projects, and tricycle projects.

He expressed worry about farmers leasing their land for illegal mining activities, and therefore, called on the government to put in more efforts in the fight against illegal mining as their action was negatively affecting the sector.