The Institute of Economic Research and Public Policy, IERPP, has charged the Mahama administration to stabilise the cocoa sector with lasting solutions lest the sector collapses.

In a note copied to media outlets by the Executive Director, Professor Isaac Boadi, the policy think tank observes that the sector is on the brink of collapse if the challenges it is facing are not dealt with.

"The challenges being witnessed in the cocoa industry need urgent attention. It also needs long term measures to forestall a possible collapse. Government must be up and doing with lasting solutions," he stated.

He further indicated that the current module for payment ought to be looked at and changes made, as that can derail the sector's collapse if not addressed.

"COCOBOD is financially handicapped, the reason for the recent upheavals by cocoa farmers waiting to be paid for bags of cocoa sold to the government. To avoid this in the foreseeable future, a new model of funding and payment must be adopted.

"If cocoa farmers continue to agitate over government's inability to pay them on time, the consequential effects will be dire," he pointed out.

According to Professor Boadi, farmers may abandon cocoa farming by selling their lands to illegal miners for galamsey, which has its attendant repercussions to the environment and the future of the country.

"Several cocoa farmers have threatened to sell their cocoa farms to galamseyers if the current challenges are not addressed. That poses a greater danger to the country. Cocoa production will decrease considerably, foreign exchange earnings will be adversely impacted and the cost to our environment would be unimaginable," he stressed.

"IERPP implores the government to, as a matter of urgency, engage with stakeholders and experts in the industry with the view to finding lasting solutions to the myriad challenges faced by the cocoa sector," he stated in his conclusive remarks.