The President of the Republic, Nana Addo Dankwa Akufo-Addo, announced a new producer price per bag of cocoa at an event in Tepa, in the Ashanti Region, on Saturday, 9th September 2023.
According to the President, this forms part of efforts by the government, in keeping with its promise to cocoa farmers.
He announced that his administration has increased cocoa prices from twelve thousand, eight hundred cedis (GH¢12,800) per ton, to twenty thousand, nine hundred and forty-three cedis (GH¢20,943) per ton, or one thousand, three hundred and eight cedis (GH¢1,308) per bag.
He said the price is seventy-point-five percent (70.5%) of the Gross FoB price, and is equivalent to one thousand, eight hundred and twenty-one dollars ($1,821) per ton.
He indicated that the new price is the highest price to be paid to cocoa farmers across West Africa in some fifty (50) years.
With the predicted stable prices above two thousand, six hundred United States dollars (US$2,600) threshold, Government will continue to honour our farmers with good prices in the years ahead. Indeed, better days are ahead, he said.