Gov’t increases producer price of cocoa by almost 60%
The Government has increased the Producer Price of cocoa by 58.26% from 1,308ghc to 2,070ghc per 64kg for the rest of the 2023/24 cocoa season.
In a press release issued by the Ghana Cocoa Board (COCOBOD), it explained that the decision arrived after the Government of Ghana, in consultation with stakeholders, reviewed the Producer Price of cocoa for the rest of the 2023/24 crop year.
The Producer Price of cocoa has been increased by 58.26% from GH¢20,928 per tonne to GH¢33,120.00 per tonne for the rest of the 2023/24 cocoa season. This figure translates into GH¢2,070 per bag of 64 kg gross weight and takes effect from Friday, 5th April 2024.
“The increase in the producer price of cocoa has become necessary to enhance the income of cocoa farmers in line with the vision of the NPP government and in response to the rising prices of cocoa on the international market,” the statement added.