To the NDC making noise with the Dollar Equivalence and Purchasing Power of respective Ghana’s Producer Price of Cocoa for 2016 and 2022.
According to Statista, In 2016, the world price of cocoa was 2,925 dollars and even rose to as high as 3,122 dollars.
In 2022, it is 2,550 dollars by February.
In fact, according to the Statista Monthly Cocoa Price Worldwide per Metric Tons from January 2016 to February 2022, the highest world price of cocoa was 3,122 dollars, and was recorded in June 2016 under the Mahama-led NDC Government.
Comparing the two worldwide prices, it can be easily ascertained that this NPP-led Government in 2022 is paying more than the NDC-led Government in 2016.
Note, despite the NDC under Mahama recording an international cocoa price of a maximum of between 2,955 and 3,033 dollars, still paid Ghanaian cocoa farmers 475gh while the NPP Government under Nana Addo is paying 800gh per bag for a lower international cocoa price of 2,550 dollars per metric tons.
The current price under the management of the Cocoa Sector under the Agricultural Ministry by Dr. Akoto under Nana Addo is best and better than under John Mahama!
Note in 2020, after the Living Income Differential (LID) came into being, the price rose from 475gh to 515gh to 660gh, and as a result, got Ghanaian cocoa farmers paid more for a bag of cocoa than cocoa farmers in Cote Divore!
And I have further learned that the NDC is still insisting that, despite the Government under Nana Addo with the management of the Agricultural sector by Akoto is giving a higher value/price for cocoa than under Mahama, the value still has a lower purchasing power as compared to that under Mahama.
Hey! Please, it is trite knowledge and necessary to note that, the 5,000 cedis which is equivalent to 50p today, some years back could pay School fees, yet the same value couldn’t even buy a mathematical set under Mahama!
Such is our system, a value is likely not to have the same value after four years, it mostly devalues. Despite sad, yet, that has been the case over the years since the birth of Ghana, and it is not only peculiar to Ghana but also to most countries across the globe, and even some of the developed countries experience the same at particular points in time!
Hhhmm, May God be praised always
Nana Kwadwo Akwaa
054 731 2716 / 024 841 1590