Wherein is the cocoa money?

 Wherein is the cocoa money?

For years cocoa has been the spine of the economy of Ghana. It isn't always just the chief agricultural export and the main coin crop however also after Cote d’Ivoire, Ghana is the second largest cocoa exporter in the global.

Conservative figures propose that cocoa by myself contributes approximately 25 according to cent to the country’s Gross Domestic Product (GDP) within an agricultural area this is said to make a contribution of approximately forty-five in line with cent to GDP. If a quarter of the United States of America’s GDP is from cocoa, then certainly nothing needs to be left in danger in ensuring that the cocoa enterprise is sustained to present the country the needed foreign exchange for its development.

The daily graphic notes that the most crucial agent inside the cocoa production chain is the farmer, without whose efforts the cocoa enterprise might now not have advanced to its current enviable level globally. Consequently, something to be able to affect farmers in their efforts to supply the crop ought to by no means be countenanced.

Governments, over time, have no longer been oblivious to this however have brought numerous policies, together with increasing the usage of fertilizer, and hand pollination, and stepped forward market access and rules to offer a geared-up market to make sure the continued viability of the sector. However, statistics that there are delays within the charge of cocoa beans purchased from farmers offer trouble not handiest for the farmers however additionally for the complete financial system.

Currently, there's blame recreation among the Ghana Cocoa Board (COCOBOD) and the Centre for Socioeconomic Research (CSS) as to who is chargeable for this. Even as the CSS is leveling accusations against COCOBOD over the delay in charge of the beans, COCOBOD has denied the allegation.

The daily photograph recalls that more than one month in the past the COCOBOD introduced that it had secured US$1.Three billion from a consortium of 21 banks to finance cocoa production and purchases in the 2018/19 cocoa season. In addition to america$1.3 billion, COCOBOD also stated it had paid GHc1.Four billion to licensed shopping for groups (LBCs) for cocoa beans that were supplied this season.

We are, consequently, baffled over where the cash is lodged presently. We suppose both the authorities and the LBCs have to come smoothly and inform Ghanaians of the actual scenario on the ground. The citizenry could be interested to realize who is telling the truth and who is telling lies. The government should straight away pass into this problem and find out what is happening, for the reason that whether or not the money has been given to the LBCs or not is easily verifiable.  

We strongly declare that we can not gamble with an important sector of the financial system as the cocoa industry. We need to add in no way kill the chook that lays the golden egg. Let the 2 entities on this problem be guided through the vital location cocoa occupies within the financial system and ensure that we do not do something in order to demotivate the farmer from generating extra. Already, the united states are battling with the issue of getting old farmers and the way to update them. If this case isn't always checked, it'll sow a seed of demotivation to the adolescents who might want to take to cocoa farming.

It also has the potential to derail the attempt of the authorities to increase yields and encourage smuggling. Already, some farmers are taking into account promoting their beans in neighboring Cote d’Ivoire. The daily graphic calls on each COCOBOD and the LBCs to reconcile their statements and come easy on the allegations and counter-allegations and make the cash to be had by the farmers. 

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