On April 8, 2024, the Public Relations Officer of the Ghana Cocoa Board (COCOBOD), Fiifi Boafo, said that Ghanaian cocoa farmers receive $47 more than their counterparts in the Cote d’Ivoire.
He made this claim in an interview on Citi TV’s Point of View programme, where he lauded the government’s recent 58 per cent increment in the cocoa producer price.
“The difference between how much Ghana is paying cocoa farmers, and the Ivorians are paying cocoa farmers, we’re paying $47 more to our Ghanaian farmers compared to Ivorian farmers,” he said.
Fact-Check Ghana has verified this claim and presents the findings below.
Claim: “We’re paying $47 more to our Ghanaian farmers compared to Ivorian farmers.”
Verdict: False
Explanation
On April 2, 2024, the Minister of Agriculture, Rural Development and Food Production in Cote d’Ivoire, Kobenan Kouassi Adjoumani, announced an increase in the producer price of cocoa from 1,000 FCFA to 1,500 FCFA.
“On this basis, the State of Côte d’Ivoire has decided to serve the price to the producer at 1,500 FCFA per kilogram, i.e. 64% of the CIF price of realization,” he said while stressing that “this is a price level never achieved in the history of the cocoa sector in Côte d’Ivoire. It is also the first time that the price of the intermediate campaign is higher than that of the main campaign.”
COCOBOD, the organisation mandated to manage cocoa production and marketing in Ghana, also announced a 58 per cent increment in cocoa producer price on April 5, 2024. COCOBOD increased the producer price from GHS1,380 to GHS2,070.
However, the producer price of 1,500 FCFA announced by the Ivorian authorities is per kilogram of cocoa beans while Ghana’s GHS2,070 is per 64 kilograms. Therefore, to accurately compare the prices in both countries, 1,500 FCFA must be multiplied by 64, which is equal to 96,000 FCFA.
64 kilograms of cocoa beans sold by cocoa farmers in Ivory Coast and Ghana is therefore 96,000 FCFA and GHS2,070 respectively.
According to the currency converter website, OANDA, as of April 10, 2024, 96,000 FCFA was USD 158.925, while GHS 2070 was USD 154.346.
This shows that cocoa farmers in Ivory Coast are being paid about USD4 more than their counterparts in Ghana.
In conclusion, Fiifi Boafo’s claim that Ghanaian cocoa farmers receive USD47 more than farmers in Cote d’Ivoire is false.
