Government Spokesperson Hon. Felix Kwakye Ofosu has defended the administration’s automatic price adjustment policy, assuring Ghanaians that recent fuel price reductions and planned cocoa sector reforms are aimed at ensuring fairness and stability for both consumers and farmers.
Hon. Felix Kwakye Ofosu has stated that the government’s introduction of an automatic price adjustment formula is designed to stabilize fuel prices and prevent shortages.
According to him, although fuel prices may fluctuate slightly due to global market trends, the current administration has worked hard to reduce petrol prices significantly since assuming office.
On cocoa pricing, Hon. Kwakye Ofosu emphasized that the government is committed to ensuring cocoa farmers receive up to 70 percent of the world market price when conditions are favorable.
He alleged that under the previous administration, cocoa purchased at GH¢10,000 per bag saw farmers receive only GH¢3,000, representing 30 percent, while the remaining 70 percent was used for procurement and related costs, an approach he said created financial strain within the cocoa sector.
Hon. Felix assured that under the current administration, cocoa prices will be adjusted transparently in line with global market movements, rising when international prices increase and adjusting downward when they fall, while maintaining fairness to prevent exploitation of farmers.
He reiterated that the government’s ultimate goal is to protect cocoa farmers from suffering and to ensure a stable and equitable pricing system.
Source: myxyzonline.com
