COCOA FARMERS NEED THEIR BONUS (SEPTEMBER 7, 2009)

“COCOA is Ghana and Ghana is cocoa” is how some analysts have described the country, which is the second-leading exporter of cocoa in the world.
Cocoa beans and products from Ghana have gained world acclaim such that in faraway Japan, if the chocolate on their shelves is not from Ghana, buyers from that country hesitate in patronising the product.
That is the extent to which our cocoa beans and products are perceived and adored by buyers on the international market such that they describe them as “premium” quality.
The DAILY GRAPHIC, therefore, finds as a worrying development the impasse between the Ghana Cocoa Board (COCOBOD) and the licensed buying companies (LBCs) over the non-payment of bonuses to some cocoa farmers in the Brong Ahafo Region.
Consequently, the farmers may be at the receiving end of this tango because as the saying goes, “When two elephants fight, it is the grass that suffers.”
The DAILY GRAPHIC is not interested in the blame game, but rather to appeal to the conscience of the two parties to resolve to find a quick solution to the impasse.
The COCOBOD recently announced preparation towards its yearly ritual of syndicated loans to finance the purchases of cocoa for this year’s cocoa season.
The over US$1 billion dollar syndicated loan is a testimony of the international financial system’s faith in our ability to deliver on the yearly cocoa purchases.
Be that as it may, the worry is that such wrong signals from the cocoa sector can impact negatively on our ability to source such funds, use them for the intended purpose and repay same in good time.
Over the past four years, the country has been able to produce cocoa beyond our regular yields. the windfall has been very encouraging and the opportunity to even go beyond the more than 600,000 tonnage exists for us to explore to make money to wean ourselves off donor partners.
Furthermore, there have been heavy investments in the cocoa industry. Cargil has doubled its cocoa processing plant to about 60,000 tonnes during the same period, likewise Cocoa Processing Company (CPC), which, at the end of its expansion programme, would have the capacity to produce about 62,000 tonnes of cocoa products for export.
All these companies depend on cocoa purchases for their production.
Therefore, the row between the COCOBOD and the LBCs has far-reaching implications for the country.
As our leading export crop, cocoa should not be undermine in any way by us, bearing in mind that the country is in difficult times.
The DAILY GRAPHIC calls for reason and above all responsiveness on the part of all the parties to ensure that our farmers are not denied the very little compensation due them as a reward for their hard work.
If anything at all, this is the time for prompt action to enable the country to take advantage of the commodity boom on the international market in respect of our cocoa exports.
The Daily Graphic, therefore, recommends dialogue between the Cocobod and the LBCs to resolve the issue amicably and we trust that good reason will prevail.