Introduce long-term measures to tackle challenges in cocoa sector – IERPP

The Institute of Economic Research and Public Policy (IERPP) has urged the Mahama administration to stabilise the cocoa sector with lasting solutions, warning that the industry risks collapse if urgent steps are not taken.

In a statement copied to media outlets by its Executive Director, Professor Isaac Boadi, the policy think tank observed that the sector is on the brink of collapse if the challenges confronting it are not addressed.

“The challenges being witnessed in the cocoa industry need urgent attention. The sector also requires long-term measures to forestall a possible collapse. Government must be up and doing with lasting solutions,” he stated.

He further indicated that the current payment model should be reviewed, cautioning that it could accelerate the sector’s decline if left unaddressed.

“COCOBOD is financially handicapped. This accounts for the recent agitation by cocoa farmers who are waiting to be paid for bags of cocoa sold to the government. To avoid this in the foreseeable future, a new funding and payment model must be adopted,” he said.

“If cocoa farmers continue to agitate over government’s inability to pay them on time, the consequential effects will be dire,” he pointed out.

According to Professor Boadi, some farmers may abandon cocoa farming and sell their lands to illegal miners engaged in galamsey, with serious repercussions for the environment and the future of the country.

“Several cocoa farmers have threatened to sell their cocoa farms to galamsey operators if the current challenges are not addressed. That poses a greater danger to the country. Cocoa production will decrease considerably, foreign exchange earnings will be adversely impacted, and the cost to our environment would be unimaginable,” he stressed.

In his concluding remarks, he said, “IERPP implores the government, as a matter of urgency, to engage stakeholders and experts in the industry with a view to finding lasting solutions to the myriad challenges facing the cocoa sector.”

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