The Chief Executive Officer of the National Entrepreneurship and Innovation Programme (NEIP), Eric Agyei ESQ., says a comprehensive policy overhaul is underway to protect cocoa farmers and stabilise the industry.

According to him, the planned changes are aimed at preventing future uncertainties in the cocoa sector and shielding farmers from external shocks such as fluctuating world market prices and exchange rates.

Speaking with Ama Konadu in an interview ‘Adea Akye Abia’ morning show at Sompa Fm-Sunyani on measures putting in place to prevent any further price shock to cocoa farmers, NEIP CEO revealed that President John Dramani Mahama has directed that the reforms be backed by law to ensure long-term sustainability.

“The President has said there is going to be a comprehensive reform about the cocoa sector, and it will be stipulated in the law we are bringing,” he stated. “If we don’t do that, we don’t know what can happen to cocoa farmers in the future.”

According to him, the reforms directed by President John Dramani Mahama are intended to provide a more predictable and secure framework for cocoa pricing, while insulating farmers from volatile global market conditions and exchange rate fluctuations.

Mr. Agyei Esq., acknowledged the disappointment among cocoa farmers and rendered what he described as an “unqualified apology.”

“I render an unqualified apology to the farmers. What happened to the price of cocoa was not intentional, but circumstances did not permit us to do what we planned,” he said.

Drawing from his personal background, he added: “I was born on Sefwi land in the Western Region. My parents are farmers, so I understand how cocoa work is like. Being in government does not mean I don’t care.”

He also stood by previous commitments made while in opposition.

“We did a lot of cocoa communication when we were in opposition, and I was part of those who spoke strongly on the issues. I am proud of whatever I said and I will never backtrack,” he stressed.

Mr. Agyei Esq., explained that cocoa pricing is largely determined by the world market price and the exchange rate, noting that economic conditions have shifted since earlier projections were made.

“Things we use to determine cocoa price include the world market price and exchange rate. At the time we spoke about higher prices, the exchange rate was different,” he explained.

Despite current challenges, government maintains that the upcoming legal reforms will prioritise farmers’ welfare and secure the long-term future of Ghana’s cocoa sector.

Sompaonline.com/Derrick Djan