Gov’t increases producer price of cocoa by 58%

Government has announced a 58.26 % increase in the producer price of cocoa from GHC 20,928 per tonne to GHC 33,120.00 per metric tonne for the rest of the 2023/24 cocoa season following consultation with stakeholders.

This figure translates into GHC 2,070 per bag of 64 kg gross weight and takes effect from Friday, 5 April 2024.

A statement issued by COCOBOD on Friday (5 April) said government has also approved a review of the buyers margin to GHC 2,980.00 per tonne for the rest of the 2023/24 cocoa season.

“The Government of Ghana in consultation with stakeholders has reviewed the producer price of cocoa for the rest of the 2023/2024 crop year.”

“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 COCOBOD statement said.

Below is the full statement:

Source: graphic online