REMARKS BY MR. ISAAC OSEI AT THE PRODUCER PRICE REVIEW COMMITTEE ( PPRC ) MEETING HELP ON FRIDAY,19 OCTOBER 2007 IN THE CONFERENCE ROOM OF THE MINISTRY OF FINANCE & ECONOMIC PLANNING

Honourable Minister of Finance & Economic Planning & Chairman of the Producer Price Review Committee.
Members of the Producer Price Review Committee.
National chief Farmer and members of the Ghana Cocoa, Coffee and Sheanut Farmer’s Association.
The President and members of the Licensed Cocoa Buyers association of Ghana.
President and members of the Cocoa Hauliers association of Ghana
Directors of COCOBOD
Distinguished Ladies and Gentlemen

Good Morning

Once again we are ready to open another cocoa season and I hope it would be a successful one for all stakeholders. As you are all aware, COCOBOD has sourced US $900 million for this year’s cocoa purchases.
COCOBOD and the Bank of Ghana have worked together to ensure that specie is moved according to an agreed programme so that money is available at the places of greatest need. Spicie availability is not a problem but we shall entreat LBCs to be on the look out for fake notes.

As you are all aware, COCOBOD has plans to improve its warehousing and quality assurance facilities. To this end, in early March this year, we sourced a three year medium term facility of US $190 million. Plans are far advanced to construct a 100,000b tonne capacity warehouse and ancillary facilities at Takoradi. We are also in the process of acquiring land within the port of Tema for a bulk shipping facility similar to the Unicontrol operations in Takoradi.

Given the increasing concerns of our key markets about chemical residue levels in food, COCOBOD will this year equipment to undertake analysis and issue appropriate certificates. This will reassure the market of our readiness to comply with the new regulations.

In this connection, COCOBOD wishes to announce that the following which COCOBOD doesn’t import are banned for use on cocoa: Endosulfan, Cocostar, Durban and Pyrinex because they contain chlopyrifos, Fenvalerate, Thionex, Thiodan, Callifan and all pirimiphos-methyl based chemicals.

Let me take the opportunity of our gathering here to state that we hope that all stakeholders in the industry would operate faithfully and comply with all existing regulations. We do not want a recurrence of all the malpractices that occurred last season with respect to short weight cocoa, submission of double invoices resulting in overpayment etc. we shall not hesitate to deal drastically with anybody involved in any malpractice. Licences will be withdrawn on violations, staff can be dismissed and culpable individuals will be prosecuted.

This year, we would also expect all LBCs to keep records of seed fund transactions so that delays and bottlenecks can be easy traced and appropriate corrections effected.

In order to minimize congestion at the ports this year, we have drawn an elaborate evacuation plan. We expect all stakeholders particularly the LBCs, Transporters, QCD and CMC staff at the ports to abide by the plan to ensure smooth takeover operations.

Honourable Deputy Minister, distinguished Ladies and Gentlemen, let me thank all stakeholders in the cocoa industry, especially our cocoa farmers for their hard work during the just ended season. Special thanks to all our stakeholders who honoured our invitation by joining us to celebrate Cocoa Day in Sefwi Bibiani.

Thank you.