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.
The figure translates into GH¢2,070 per bag of 64 kg gross weight and takes effect on Friday, April 5, 2024.
The Ghana Cocoa Board (COCOBOD) issued a statement on April 5, 2024, outlining the new prices.
The statement explained that 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.
Furthermore, the government has also approved a review of the buyers’ margin to GH¢2,980.00 per tonne for the rest of the 2023–24 cocoa season.
This increase is expected to cushion the LBCs against the increase in finance costs due to an increase in the producer price of cocoa.
By: Rainbowradioonline.com/Ghana
