The Chief Executive Officer for COCOBOD has reiterated that COCOBOD can no longer grant scholarship to students of cocoa farmers again due to the fall in cocoa price. Speaking to ATV’s Oheneba Nyarko, Mr. Joseph Boahen Aidoo said the government who is the main exporter of Ghana’s cocoa bean is running at a loss due to the fall of cocoa price in the world market.
In Ghana, the world’s valentine day has been attributed to chocolate day due to the large production of cocoa in the country, meanwhile the product falls short in the market during the season which a lot of consumers have blame authorities for not expanding the chocolate industry.
A lot of Ghanaians prefer the Ghana made chocolate to that of the foreign due to its sugar content retailers disclosed to the news team. Nevertheless, cocoa farmers were motivated by increasing cocoa prices two years ago during erstwhile Mahama administration and it’s an indisputable fact they will be glad to realize another increment but Mr Boahen Aidoo said government cannot increase prices of cocoa.
In the interview, the chief executive officer for cocobod, Mr. Joseph Boahen Aidoo explained that the government buys cocoa beans from farmers at a price equal to its export at the world market and as a results government borne a cost of $600.00 per a tone of cocoa bean exported, these expenses comprises transportation and offloading. He added that his outfit can no longer provide scholarship to wards of cocoa farmers in addition to the cost of exporting the product.