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Ghana: Lbss to start paying Cocoa farmers today–Dr Owusu afriyie

+ Cocoa farmers across the country who have not been paid by their Local Buying Companies (LBCs) for their cocoa beans are expected to from today Monday start getting paid. The Minister-designate for Food and Agriculture, Dr Owusu Afriyie Akoto, who disclosed this on Friday said the Bank of Ghana had collaborated with the Ghana Cocoa Board to raise funds to settle the LBCs for onward payment to the affected farmers. “From Monday, farmers will start getting paid,” Dr Akoto told the 26-member Appointments Committee in Accra. The assurance follows a concern raised on the floor of Parliament by MP for Buem, Kofi Adams, who in a statement said LBCs in his constituency owe cocoa farmers to the tune of GH¢11 million.

Release funds to LBCs – Cocoa farmers appeal to government

Cocoa production in Ghana is expected to reach 800,000 tonnes this season, COCOBOD has said Some cocoa farmers in the Western North Region have raised concerns on the need for the government to make available monies to Local Buying Companies (LBCs) to enable them to buy their produce. Inadequate funds at cocoa buying companies have brought an adverse effect on the livelihoods of farmers. Cocoa farmers in the country have over the years relied solely on LBCs for their income but most LBCs in the region have not been able to meet demands of their farmers in terms of payment for the sale of cocoa produce.

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