The Ghana Chapter of the Cocoa Farmers Alliance of Africa (CFAA) has praised the Finance Ministry for pursuing domestic strategies to address challenges facing the cocoa industry.
The farmers’ group rejected calls from certain sections, especially the Minority in Parliament, urging the government to request assistance from the International Monetary Fund (IMF) to tackle the sector’s problems.
“We appreciate the government’s effort in managing the economy, which has supported the Ghanaian Cedi and contributed to reducing inflation to a single digit,” a press release signed by member Mark Ewusi Arkoh noted.
“As cocoa farmers, we recognise our duty to ensure our prices reflect global competition, contributing to the long-term sustainability of the industry.”
The farmers’ statement comes after Cabinet’s Thursday decision to slash the price per 64kg bag of cocoa from GH¢3,625 to GH¢2,587, part of a package of measures unveiled by Finance Minister Dr Cassiel Ato Baah Forson.
The Finance Minister’s policy announcement was subsequently followed by a response from the Minority at a press conference.
“We take note of calls by the Minority in Parliament for government to seek IMF intervention.
“We, the Cocoa Farmers Alliance of Africa (CFAA), Ghana Chapter, categorically state that such calls are unacceptable and must be totally ignored.
“Ghana must find home-grown solutions to its economic challenges, not rely on external crutches.”