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NDC transferring over 80% of cocoa value to farmers- Inusah Fuseini
Former Tamale Central MP, Inusah Fuseini, has rejected claims that cocoa farmers are worse off under the current administration, insisting that producers are receiving greater value compared to the previous government.
Speaking on Metro TV, he accused the New Patriotic Party of pushing what he described as misleading propaganda about cocoa prices.
He explained that when the NPP was paying 3,100 cedis per bag of cocoa, the exchange rate stood at about 17 cedis to one US dollar.
Based on that rate, he argued that farmers were effectively earning around 182 dollars per bag.
According to him, this amount was lower than what farmers receive today when converted into dollar terms.
Fuseini stated that upon assuming office, the National Democratic Congress pegged the cedi at a stronger rate against the dollar and adjusted cocoa prices accordingly.
He noted that when the producer price was set at 2,650 cedis, the equivalent value was about 252 dollars per bag, which he maintained was significantly higher than the earlier figure.
