PRODUCER PRICE OF COCOA FOR 2024 / 25 COCOA SEASON .
The current Ghanaian government has recently upsurged the producer value(price) of cocoa for the 2024/25 crop year by 58.26%. This changes(increases) the producer price of cocoa from GHC20,928.00 per tonne to GHC33,120.00per tonne.
This increase is meant to boost the income of cocoa farmers in Ghana and it is the feedback to the rising prices of cocoa on the global market.
This progress is part of the government’s efforts to boost the welfare of cocoa farmers and it is expected to have a meaningful impact of the daily lives of the cocoa farmers.
Moreover,there was a 63.6% increase over the GHC800 per bag paid to cocoa farmers in the past 2023/24 season.
Cocoa prices have been rising since the last quarter of 2023, reaching a record of 10.97 dollar per kilogram on April 19. The price inflation is due to a huge drop in bean production by almost all global suppliers including Ghana.
The decision was made to upgrade the income of cocoa farmers and to encourage them to continue producing high – quality cocoa.
Source: Kaalewobr Deomedome Aida || 19th September, 2024
