The People’s National Convention (PNC) says it is unimpressed about the government’s 21 per cent increase in the producer price for cocoa.

The party said the new farm gate price for the commodity is disrespectful to farmers.

“It is a very insulting and disrespectful gesture for cocoa farmers to sell their cocoa beans at ¢800.00 per cocoa sack,” the party said in a statement issued on Thursday.

It added that this will affect the willingness of farmers to work hard.

“Farmers find it difficult to manage the proceeds from this price. If cocoa farmers are not happy, productivity in this sector is also negatively affected. Many farmers are getting disappointed by the day.”

According to PNC, the government could have increased it to 40%.

“This would have brought up cocoa prices to a minimum of ¢925 instead of ¢800.”

The government has increased the producer price for cocoa beans by 21% to ¢800 for the 2022/23 cocoa crop season.

This is lower compared to the Ivory Coast which pegged its price at about, ¢858 for the same season.

Prior to the announcement, a bag of cocoa was selling for ¢660 a bag in Ghana.

The new pricing regime will take effect tomorrow [Friday, October 7].

However, following the announcement, some persons including the Ranking Member of Parliament’s Finance Committee have taken on the government.

According to him, the increment is not reflective of the hardships faced by the farmers.

“That is way too small. We know in times like this, the person who should benefit most is the one whose currency has depreciated the most.

"Ghana’s currency has depreciated more than that of the Ivory Coast,” he stated in an interview in a media interview on Wednesday, October 5.