Nana Kojo Agyeman a cocoa farmer in Twifo Praso said the spate of corporate mergers in the cocoa industry will not create space for competition.
According to Nana Kojo Agyeman. “Initially, it was only Produce Buying Company which buys the cocoa. But what happened was that, when you send your cocoa it is being recorded in your passbook then, you go to the rural banks with it to withdraw your money but you get there and you are told there is no money. God being so good, we had private companies to assist us.” He revealed.
Nana Kojo Agyeman emphasized that, a spate of the corporate mergers will not create competition. He said “even when the cocoa are not ready, companies which buys from them gives them their monies before harvesting time”. He also said even when government has not provided them with fertilizer, some of these buying companies provide them with the fertilizer and also chemicals for their farms.
“If this mergers happens, then, there will be a monopoly which will affect cocoa farmers and that is our fear.”
He stressed that, if this happens, it is going to affect the price of cocoa because, as they merge, they are going to decide on how much to pay for a bag of cocoa therefore, farmers will have no say than to give in to their price.
Source: ritemonline.org
