The Minister of Finance and Economic Planning, Dr. Kwabena Duffour says Government is aware of the threat that the oil sector poses to the country�s cocoa industry.
Citing Nigeria as an example, he noted that �before the discovery of oil, the country�s economic survival largely depended on agriculture, including groundnut from the northern part of the country.� �During the country�s oil boom in 1971 the government went ahead to use revenue from the state coffers to fund extensive agricultural improvement schemes,� he said.
Despite these efforts, he noted, cocoa exports in Nigeria dropped from 241,000 tonnes in 1975 to 100,000 tonnes in 1983 since it led to a massive reallocation of resources. �The newly found wealth led to massive increases in imports and all this created large growth in non-farm employment. Many Nigerians, especially the youth moved to cities to take advantage of these opportunities,� he added.
The Minister disclosed these when Deputy Minister, Fiifi Kwetey read a speech on his behalf at a three-day workshop on Cocoa Sector Strategy Document II in Accra.
He urged participants at the workshop to provoke discussions on some issues related to the recent oil discovery in Ghana, adding that �they should come out with strategies which would re-position the cocoa industry to ensure that it continues to play its role in the socio-economic development of the Ghanaian economy.�
Giving a background to the strategic document, the Chief Executive of Ghana Cocoa Board (COCOBOD) Anthony Fofie said, �The first Cocoa Sector Development Strategy was approved by Government in April 1999 after extensive consultations with stakeholders.�
The objective of Cocoa Strategy I, he said, was aimed at increasing production to enhance the income of farmers. �These would be achieved through effective internal and external marketing, adequate incentives for farmers through payment of remunerative producer price, streamlining of cocoa research and extension services to make the operations of COCOBOD more efficient. �After implementing the first strategy document for 10 years and in the light of the current happenings in local and international markets, it became necessary to review the existing strategy document,� he stressed.
Mr. Fofie said his outfit, in collaboration with the Ministry of Finance and Economic Planning, reviewed the first strategy document to form the basis for the preparation of the new strategy.
He indicated that with the new strategy, emphasis would be laid on the adoption of modern production technologies to improve planting materials, husbandry practices, inorganic fertilizers, diseases and pest control.
He stated that �the strategy would also seek to position the cocoa industry of Ghana in the modern business arena.� Mr. Fofie called on participants to consider the workshop as a call to national duty since �the discussions would address current issues in the cocoa industry.
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