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The Ghana Civil Society Cocoa Platform, which advocates for the well-being of cocoa farmers, is asking COCOBOD to increase the lifetime income differential of cocoa farmers to a minimum of GHS672.6 ($ 118.00) per bag (62.5 kg) of cocoa beans for the year 2020 / Cocoa harvest 2021.
In a statement from the Ghana Civil Society Cocoa Platform, COCOBOD is urged to urgently realize the purpose of instituting the Digital Income Differential to compensate for the losses suffered by the drop in international prices of cocoa as a result. of Covid-19.
In July 2019, Ghana and Cote D’Ivoire, which control more than 60 percent of world cocoa production, agreed to a minimum price of $ 2,600 per tonne of cocoa beans and also an income differential for life (LID ) of $ 400 per tonne of cocoa to be paid by chocolate and cocoa processing companies to farmers beginning in the 2020/21 cocoa season.
Based on the 2019/2020 parameters to calculate the net on-board freight (FoB) for cocoa beans, we expect the net FoB for the 2020/2021 cocoa season to be no less than 90% of the world cocoa market price valid. In fact, they expect the net FOB price of cocoa beans to be no less than $ 2,227.
