Ghana announces increase in cocoa producer price to GHC3,100
Ghana has announced a small increase in the cocoa producer price, raising it from GHC3,000 to GHC3,100 per 64kg bag for the 2024/2025 crop season. This change represents a 0.03% increase to keep prices in line with market trends. President Akufo-Addo made this announcement at the National Farmers’ Day awards in Accra on Friday (8 … The post Ghana announces increase in cocoa producer price to GHC3,100 appeared first on Asaase Radio.
Ghana has announced a small increase in the cocoa producer price, raising it from GHC3,000 to GHC3,100 per 64kg bag for the 2024/2025 crop season.
This change represents a 0.03% increase to keep prices in line with market trends.
President Akufo-Addo made this announcement at the National Farmers’ Day awards in Accra on Friday (8 November).
“On the advice of the producer price review committee, I am pleased to announce an increase in the producer price of cocoa from GHC48,000 to GHC49,600 per tonne, raising the price from GHC3,000 to GHC3,100 per bag”, the president said.
He added that this adjustment was part of efforts to boost farmers’ incomes amid challenging conditions.
Tertiary scholarship
The government has also announced a new initiative to provide free tertiary education for children of cocoa farmers.
Addressing the chiefs and people of Jacobu to mark this year’s Farmers’ Day, the vice-president and presidential candidate of the New Patriotic Party (NPP) Dr Mahamudu Bawumia highlighted the critical role cocoa farmers play in Ghana’s economy.
He explained that the policy aims to empower families by creating educational opportunities, which can lead to economic mobility and stability.
The vice-president underscored the government’s commitment to easing the financial burden on these families through education support.
“Previously, COCOBOD provided scholarships to help cover secondary school costs for the wards of cocoa farmers. However, with the Free SHS policy now covering secondary education, the government has decided to reallocate these funds toward financing tertiary education instead”, Dr Bawumia said.
“COCOBOD is set to roll out this new scholarship scheme for cocoa farmers’ children in tertiary institutions starting next year”, he added.
With 168 workers, his North American farms produce crops like cocoa and cashew. As part of his award, he received one million Ghana cedis.
In his acceptance speech, Nana Owusu urged more action to ensure food security across the country.
The Farmers’ Day event celebrated farmers nationwide for their hard work and contribution to Ghana’s economy.
Reporting By Jonathan Ofori, Asaase Newsroom, Kumasi
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The post Ghana announces increase in cocoa producer price to GHC3,100 appeared first on Asaase Radio.
