The government of Ghana increased the producer price of cocoa from GHc 10,560.00 per tonne to GHc 12,800.00 per tonne culminating into GHc 800 per bag of 64 kg gross weight for the 2022/2023 Cocoa season.
The increment represent 21 percent from the old price to the new price and this increment takes effect from Friday October 14, 2022.
Dr. Owusu Afriyie Akoto, the Minister of Food and Agriculture who is also the Chairman of the Producer Price Review Committee (PPRC), has disclosed that the new producer price represents 89.99 percent of the net freight on board value (FOB).
“The 21 percent rise in the producer price of cocoa is a testament to government’s resolve to ensure farmers earn a decent income and make cocoa farming lucrative. The government will continue to implement initiatives to build a robust, resilient and sustainable cocoa industry where cocoa farmers and their communities will thrive,” Dr. Afriyie Akoto said.
Most cocoa farmers have complained about the producer price of cocoa, and one may even conclude by saying, this has led to some cocoa farmers even to exchange their cocoa farms for money from illegal miners as they convert cocoa farms for mining activities.
In the 2021/2022 crop season, the government maintained the producer price farm-gate price at Ghc 660.00 despite a fall in the world market price of Cocoa and the adverse impact of the Covid-19 on the global economy.
Ghana is notably known for producing Cocoa beans with significant contributions to the world cocoa quantity. Ghana earns substantial amount from its cocoa and gives the country international leverage hence the need to enhance cocoa farming and the export of same.
