This follows calls by the minority in parliament for a 50% increase.
The minority spokesperson on agriculture and cocoa affairs, Dr. Afriyie Akoto addressing the press recently said the unattractive producer price is encouraging the smuggling of cocoa from the Ghana to neighbouring Cote D’Ivoire and Togo.
The producer price of cocoa for the 2013/2014 crop season has been maintained at the old price of 3, 392 Ghana cedis per ton.
The Producer Price Review Committee last year maintained the producer price based on consistent reduction in the world market price of the cocoa, which the minority disputes.
Speaking on the Citi Breakfast Show on Friday, Finance Minister, Seth Tekpeh stated that the committee will propose a fair price.
He said: “If the prices, the trend goes up as they are going now the committee will meet and I can assure the farmers that justice will be done including the payment of bonuses.”
He further explained that his outfit has “a balanced policy which has been acknowledged and it is that balanced policy which makes the consultative process that was put in place many years ago very, very, important.”.
The Producer Price Review Committee (PPRC) is made up of the Minister of Finance, representatives of the Ghana Cocoa Board (COCOBOD), cocoa farmers, among others.
Cocoa production for the past three years has witnessed gradual decline from about 900 thousand metric tons to a little over 700 thousand metric tons.
By: Rabiu Alhassan/citifmonline.com/Ghana