Cocoa farmers are being recognized in their contributory role in sustaining the cocoa sector of Ghana with loyalty bonuses.
A new Licensed Buying Company (LBC), Eliho Ghana Ltd. and partner of Touton SA has declared an amount of GHS2,160,000 as the 2019/2020 loyalty bonus for distribution to its outstanding farmers in Ghana.
The new licensed cocoa buyer operates in collaboration with its partner, Touton SA, a comprehensive model through Rural Service Centres (RSCs) to render seven main services that comprise certification, access to inputs; cocoa rehabilitation; access to finance; productivity intensification support; food and security community development and forest protection services.
The Country Manager of Touton SA, Mr. Ernest Dwamena, disclosed the news to the management of Ghana’s cocoa regulatory body, Ghana Cocoa Board (COCOBOD) in Accra on the September 22, 2020.
Mr. Dwamena expressively stated that “the gesture was in recognition of the contributions of cocoa farmers towards the sustainability of the industry”.
He further used the occasion to further pledge an additional top-up of GHS3,182,811 to some 33,748 farmers to strengthen their farming activities and provide scholarships for their wards.
Commenting on the benefits of investing in the productivity of cocoa farmers, Mr. Dwamena said, “through this drive, an investment of GHS13,439,000 into productivity and community development projects has yielded the expected outcome of increased productivity that translates to improved incomes and livelihoods of beneficiary cocoa farmers”.
Mr. Dwamena hinted that his outfit, Touton SA, has been instrumental in complementing the efforts of COCOBOD over the past years in ensuring a sustainable environment for the cocoa sector through the implementation of various productivity programmes geared at improving the livelihoods of farmers.
The Managing Director of the Cocoa Marketing Company (CMC), Mr Vincent Okyere Akomeah on behalf of the Board, commended Touton SA for its efforts at implementing several innovative solutions that generate value along the cocoa supply chain.
Elated about the commitment of cocoa farmers in ensuring a sustainable cocoa value chains in Ghana, Mr Akomeah called on cocoa farmers to adopt best practices that preserve the environment.
On issues regarding the employment of child labour on cocoa farms, Mr. Akomeah entreated the management of Eliho Ghana Ltd and Touton SA to intensify their campaign and education efforts against the use of child labour on cocoa farms since the elimination of worst forms of child labour is a shared responsibility in the cocoa value chain.
“Zero tolerance for child labour is a requirement for world cocoa certification”.
Mr. Akomeah, Managing Director , COCOBOD
Eliho Ghana Ltd. Undertakes its operations in the Brong Ahafo, Ashanti, Central, Western North, and South Regions of Ghana with over 33,000 farmers.
Given the recent setting of the living income differential, cocoa farmers benefitting from a partnership with Eliho Ghana Ltd and Touton SA are expected to be better of compared to others who are not beneficiaries.
Recently, Ghana and the Ivory Coast jointly established a price floor of $2,600 per tonne and a Living Income Differential (LID) geared towards increasing their payoffs. The raise is as a result of the implementation of a $400 per metric tonne premium on futures prices for the 2020/2021 harvest. While the aim of the cocoa exporting giants, and stakeholders is to pay 70% of the $2,600 per tonne target price to cocoa farmers, a rise of the price above $2,900 will see proceeds of the LID being placed in a stabilisation fund which will cushion farmers against any decline in cocoa prices below $2,600 in the future.
