The Chamber of Cocoa Marketers has recommended that President John Dramani Mahama sign the Ghana Cocoa Board Bill into law immediately, stressing that “time is of essence” for the cocoa sector.

Acting President of the Chamber, Samuel Adimado, said the passage of the Bill presents an opportunity to introduce new thinking to address persistent challenges confronting the cocoa industry.

Speaking to the media on the sidelines of the launch of the Chamber of Cocoa Marketers, Samuel Adimado said delays in signing the legislation could hold back efforts to strengthen the sector.

“With the briefing that we have been given, time is of essence. This is not politics. Time is of essence,” he said.

“As an agriculturist, I wouldn’t recommend the President to wait in signing it. As an agriculturist, I know what it is,” he added.

The Chamber brings together Licensed Buying Companies (LBCs), processors, banks, insurance institutions, transporters and other actors within the cocoa value chain. It is intended to provide a platform for stakeholders to engage government, the Ghana Cocoa Board (COCOBOD) and other institutions on issues affecting the industry.

Samuel Adimado said the Chamber welcomes provisions in the Bill that seek to protect established cocoa farms, particularly given the significant investment required to develop cocoa planting materials.

He explained that cocoa seedlings developed by the Cocoa Research Institute represent a major public investment because they are distributed to farmers without being sold.

“Those of you who visit Cocoa Research Institute and you understand what they do there, you agree with me that it is a heavy investment. A heavy investment which is termed as a public good. Public good in the sense that the cocoa seedlings are released to farmers, they are not sold, but there is a heavy cost in breeding this planting material. Therefore, it is important that we protect it,” he said, adding that any destruction of cocoa farms should require permission and, where appropriate, compensation.

The Chamber also wants stakeholders to play an active role in developing the guiding principles that will underpin implementation of the new legislation.

Samuel Adimado further called for incentives to support businesses involved in cocoa value addition, arguing that such activities face significant operational challenges.

“It’s a business and therefore, there should be incentives to ensure that if you are into value addition in Ghana, then you should survive as a business,” he mentioned.

He assured that the Chamber would adopt a collaborative approach in engaging government and other stakeholders, saying its focus is on creating an enabling environment for businesses in the cocoa sector to grow and thrive.

“We should listen to all opinions so that it can be incorporated into the guiding principles. As a chamber, we are not going to be confrontational. We are businesses, and for businesses, we want to behave in the corridors that will ensure that we get the enabling environment that will enable us to grow and thrive as business,” Samuel Adimado remarked.

The Ghana Cocoa Board Bill also introduces a new cocoa pricing mechanism, with farmers guaranteed 70% of gross free-on-board (FOB) value while allowing producer prices to be adjusted based on market indicators.