Cocoa producer price increased to GH₵3,100
President Nana Akufo-Addo has announced a slight increase in the cocoa producer price, from GH₵3,000 to GH₵3,100 per 64kg bag. This change marks a 0.03% rise from the previous rate set in September for the 2024/2025 crop season and aims to align cocoa prices with current market conditions. The adjustment translates to GH₵49,600 per tonne and is intended to provide additional support to Ghanaian cocoa farmers.
Previously, the government had increased the price of cocoa beans paid to cocoa farmers at the farm gate to GH¢48,000 per tonne for the 2024/2025 cocoa crop season. This was an unprecedented increase of 129.36 per cent from last year’s announced figure.
Speaking at the National Farmers’ Day awards ceremony in Accra on Friday, November 8, President Akufo-Addo stated that the increase in the cocoa producer price was based on recommendations from the Producer Price Review Committee.
He expressed confidence that the new price would help stabilize farmers’ incomes, especially considering the various economic challenges that farmers are currently facing.
“I am pleased to announce, on the advice of the producer price review committee, an increase in the producer price of cocoa from GH₵48,000 to GH₵49,600 per tonne, raising the price from GH₵3,000 to GH₵3,100 per bag,” Akufo-Addo said, reiterating his commitment to the welfare of farmers.
He noted that the directive to review prices periodically is a step towards enhancing income security for cocoa farmers.
