§ Mr. Gallacher70, 71 and 72. asked the Secretary of State for the Colonies (1) what percentage of the profits accumulated from the sale of cocoa is being set aside in order to establish the fund for the stabilisation of prices;
(2) what percentage of the profits made on cocoa is allocated for the well-being of the native grower and of the whole native population of British West Africa, respectively;
(3) what percentage of the profits made on cocoa is handed back to the native grower.
Mr. Creech JonesPrices paid to cocoa growers in the Gold Coast and Nigeria are fixed annually by the local cocoa marketing boards on which the producers are represented. Cocoa is sold by the boards during the year at world market prices. The amounts which, after purchasing cocoa and paying their expenses, the boards can add to their reserves therefore fluctuate.
These reserves are held primarily for price stabilisation. Their allocation for this and other purposes is a matter for decision by the boards who are empowered by local legislation, subject to the approval of the Governor in Council, to use their funds for any purpose likely to benefit the cocoa producers. This might cover such services as research, disease eradication, the amelioration of indebtedness, the encouragement of cooperation and the provision of other amenities and facilities.
The only allocations made so far are £9 million for swollen shoot rehabilitation and £1 million for cocoa research. 34W In addition, in the crop season 1946–47. £890,000 was allocated to the University College at Achimota.