2027 Budget Statement: Reduction in cocoa prices, delayed payments crippling Kumasi Traders – Traders lament
Some traders in the Kumasi Metropolis of the Ashanti Region say the reduction in cocoa prices and delays in the payment of cocoa farmers have hugely impacted local economies.
According to some traders at the Central Business District of Kumasi, most of their customers, who are mainly farmers, are no longer buying goods due to government’s decision to reduce cocoa prices.
The traders explained that cocoa farmers, who form the backbone of their customer base, are now financially constrained and unable to patronize their shops as they used to.
They noted that the delays in payment to cocoa farmers have further worsened the situation, leaving both farmers and traders in distress.
They also argued that the economic indicators as projected by government in its books are not truly reflecting on the ground.
They revealed this when the Minority Caucus on Parliament’s Energy Committee engaged them ahead of the 2027 Budget Statement.
One trader lamented, “Our customers are mainly cocoa farmers, but since the price was reduced, they are no longer coming to buy from us.”
Another trader said, “We are struggling to survive because the farmers have no money, and when they have no money, our businesses also collapse.”
A third trader added, “Government says the economy is improving, but what we see here in the market is completely different.”
Another trader also stated, “The delays in paying the cocoa farmers are killing us. If the farmers are not paid, how can they buy from us?”
One more trader appealed, “We are pleading with government to restore the cocoa price and pay the farmers on time so that business can bounce back.”
The traders concluded by calling on government to urgently address the concerns of cocoa farmers, stressing that the survival of local businesses in Kumasi depends largely on the wellbeing of farmers.
Source: Ghana/otecfmghana.com/Jacob Agyenim Boateng
