'This is the lowest cocoa price increase since 2016' – Ekow Assafuah slams government

The Member of Parliament for Old Tafo Constituency, Vincent Ekow Assafuah, has criticised the government’s newly announced cocoa producer price, describing it as the “lowest price increase since 2016.”

In a social media post, Assafuah responded to the announcement by Finance Minister Dr Cassiel Ato Forson, questioning the significance of the increment.

He pointed out that in 2024, the price of a bag of cocoa stood at GH¢3,100, and after all the government’s promises to transform the cocoa sector, the new price of GH¢3,228.75 per bag reflects a marginal increase of just GH¢128.75.

“Is this the heaven on earth you promised?” the Old Tafo MP quizzed, taking a swipe at the government’s earlier assurances of substantial improvements in cocoa pricing.

He further asserted that the increase represents the smallest margin of adjustment in cocoa prices since 2016, challenging the government’s narrative of significant progress.

Assafuah’s comments add to the growing scrutiny over the government’s economic policies, especially in sectors like cocoa, which is a critical pillar of Ghana’s economy.

His remarks suggest that the announced price increment falls far below expectations, particularly for cocoa farmers who were anticipating a more meaningful increase in light of the government’s campaign promises and speculations that farmers could receive GH¢6,000 per bag of 64kg gross weight.