Government increases cocoa producer price by GH¢100, sells at GH¢3100 per bag – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has announced a GH¢100 increase in the producer price of cocoa from GH₵3,000 to GH₵3,100 per 64kg bag.
This represents a 0.03% rise from the rate announced in September for the 2024/2025 crop season by the Ghana Cocoa Board.
Announcing the new price at the National Farmers’ Day celebration on November 8, 2024, the president said the reason for the increase is to align Ghana’s cocoa prices with current market conditions.
Hitherto farmers have lamented Ghana’s cocoa prices, citing it as one of the causes of smuggling.
The president added that this price increment is part of the government’s efforts to ensure periodic reviews to support farmers’ incomes amid challenging conditions.
President Akufo-Addo stated, “On the advice of the producer price review committee, I am pleased to announce an increase in the producer price of cocoa from GH₵48,000 to GH¢49,600 per tonne, raising the price from GH¢3,000 to GH¢3,100 per bag.”
This year’s National Best Farmer is Nana Owusu Achiaw Brempong, a 70-year-old from the Sekyere Central district of the Ashanti Region.
Nana Owusu began farming 50 years ago and owns North American farms with 168 workers cultivating diverse crops, including cocoa and cashew.
He received one million Ghana cedis as part of his reward.
Watch the President’s announcement below
Source: www.ghanaweb.com
