In a move aimed at bolstering the livelihoods of cocoa farmers, the Government has announced a significant increase of 58.26% in the cocoa producer price for the remainder of the 2023/2024 season. Following consultations with stakeholders, the price per tonne has been raised to GH¢33,120.00 from GH¢20,928. This adjustment equates to GH¢2,070 per bag of 64 kg gross weight and is set to take effect from Friday, April 5th, 2024.
A statement from the Ghana Cocoa Board explained that the decision to raise the producer price was driven by the need to align farmer income with the escalating prices of cocoa on the international market. Emphasizing the commitment to prioritize the welfare of cocoa farmers, the statement highlighted President Nana Addo Dankwa Akufo-Addo’s dedication to uplifting the agricultural sector. Since assuming office in 2017, the NPP government has consistently increased the cocoa producer price by 336%, from GH¢7,600 per tonne in the 2016/17 cocoa season to the unprecedented level of GH¢33,120 per tonne for the ongoing 2023/24 cocoa season.
