Ghana’s government on Wednesday announced a 45-per cent increase in the producer price of cocoa for the 2024/2025 crop season, in a bid to curb smuggling.
The policy is also designed to improve the welfare of cocoa farmers as the new season begins, said Agriculture Minister Bryan Acheampong.
The new price, effective from Wednesday, raises the payment for a 64-kilogramme bag of cocoa beans to $192, up from $132.
That brings the farm gate price to $3,063 per tonne, a 129-percent increase from the opening price of $1,335 per tonne for the 2023/2024 season.
“This is an unprecedented increase of 129.36 per cent,” Acheampong said as he announced the increase Wednesday.
“This appreciable increment in the producer price of cocoa signifies the government’s commitment to improve the sector and the livelihoods of the Ghanaian cocoa farmer.”
The price rise follows a mid-season…