Michael Essel-Mills, the New Patriotic Party (NPP) Secretary for the Nhyiaeso Constituency, has launched a fierce defense of cocoa farmers, demanding that the government immediately rescind its decision to slash the producer price from GH₵ 3,625 to GH₵ 2,587.
Mr. Essel-Mills argued that if the current administration cannot sustain its own pricing, it must, at the very least, maintain the GH₵ 3,100 price point established under former President Nana Addo Dankwa Akufo-Addo.
He insisted that farmers should not be penalized for what he characterized as “administrative failings.”
“Pay the farmers Nana Addo’s GH₵ 3,100. You cannot take away what you did not provide,” Mr. Essel-Mills declared.
Management and Strategy
Speaking on Hello FM’s Akoko Abon program on Saturday, February 14th, Essel-Mills, a professional Financial Accountant rejected assertions that COCOBOD’s current struggles are a legacy of the previous NPP administration.
Instead, he attributed the crisis to poor strategic planning and a lack of expertise in navigating global commodity markets.
“We are in this position because of inexperience, incompetence, and power plays fueled by ego,” he stated.
He added that, “the current management lacks the strategic insight required for global commodity trading.”
Market Volatility and Failures:
While acknowledging that international cocoa prices have dipped recently, Essel-Mills argued that market volatility is a predictable factor that should have been managed more effectively.
Ignored Warnings:
He claimed management ignored clear signals of market shifts.
Missed Opportunities:
He stressed that the new leadership failed to capitalize on favorable price peaks.
Abandoned Protocols:
He maintained that established best practices within the trading ecosystem were discarded, leading to the current pricing crisis.
Economic Implications:
The Nhyiaeso Secretary cautioned that the instability within the cocoa sector could have a “domino effect,” potentially impacting financing banks and the broader Ghanaian economy.
“The cocoa sector is highly sensitive to information and market sentiment. It cannot be managed through propaganda and egocentrism,” he concluded.
Background
Cocoa remains a cornerstone of Ghana’s economy and a primary foreign exchange earner.
Pricing decisions are not merely fiscal policies; they directly impact the livelihoods of hundreds of thousands of farming households across the country.
Story By Michael Ofosu-Afriyie,
Kumasi
