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Olam Ghana launches Cocoa Premium payment

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CocoaThe Head of Business at Olam Ghana Ltd, Mr Gurinder Goindi Singh has appealed to cocoa farming communities to support Cocobod and other stakeholders like Olam to increase productivity.

He also called on stakeholders in the industry to help increase women participation in the business and desist from engaging children on their farms but rather ensure that they stay in school.

Mr Goindi explained that engaging children in the farm is not only criminal but could also prevent them from attaining education which is very crucial in the total development of the individual to support the development of the nation’s labour force.

Mr Goindi made the appeal during the launch of Olam Ghana Ltd premium payment at Ackaakrom in the Akontombra District of the Western Region.

The programme saw farmers receiving GH¢15 premium per bag of cocoa sold to the company.

The premium comes as a result of the certification of cocoa sold by the farmers to the purchasing company of their choice.

A total of GH¢1.9 million is to be paid by the company as premium for more than 8000 tons of certified cocoa purchased by the company from some of its project development areas in the Ghana cocoa space for the 2014/2015 main crop cocoa season.

The Deputy Chief Executive of Cocobod, Dr Francis Oppong in an address read on his behalf said the cocoa industry in the country is facing serious challenges and called on all and sundry to support Cocobod to find a lasting solution to it.

He appealed to cocoa farmers to avoid smuggling the crop to neighbouring countries since such act could collapse the industry.

Dr Oppong stated that the nation has targeted two million tons of cocoa over the next few years, adding that prudent measures are being put in place to achieve the target within the shortest possible time.

Some of the measures he said are the redistribution of hybrid seedlings to both old and new farmers, research into other issues as well as the intensification of education of farmers to adopt prudent farming practices.

The Omanhene of Sefwi, Katakyie Kwasi Bumagama II, who chaired the occasion, used the function to launch the Sefwi Educational fund.

The paramount chief commended Olam Ghana Ltd for the support it has been giving to farmers and communities in the area.

He appealed to the company to help provide computers to schools in the area to enhance the teaching and learning of Information and Communication Technology, which has become the tool for development the world over.

Mr Eric Asare Botwe, on behalf of Olam Ghana pledged GH¢20,000 as a seed capital to support the educational fund to promote the development of education.

Source: GN

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