The Producer Price Review Committee (PPRC) has announced a 21% increase in the producer price of cocoa from GH¢10,560 per tonne to GH¢12,800.00 per tonne.
The increment brings the price of a 64kg pack of cocoa to GH¢800, with effect from the 7th of October 2022.
This declaration was made by the Ghana’s Minister for Food and Agriculture. Dr. Owusu Afriyie Akoto, who is also the chairman of the PPRC.
According to Dr Akoto, projected cocoa production volumes, expected inflows, industry costs, and the need to appropriately remunerate cocoa farmers, among other contemplations, informed the price change.
The PPRC also approved new rates and fees for all other stakeholders in the supply chain, including the buyers’ margin, hauliers’ rate, warehousing and internal marketing costs, as well as, fees for disinfestation, grading and sealing and scale inspections.
Dr Owusu Afriyie Akoto further said, the 21% rise in the producer price of cocoa is a demonstration of Government’s purpose to guarantee farmers procure a good pay and make cocoa farming rewarding.
He said Government will keep on executing drives to fabricate a powerful, strong and maintainable cocoa industry where cocoa farmers and their communities will flourish.
He said cocoa farmers will keep on getting support through the the pests and diseases control programme (Mass Spraying) and rehabilitation of diseased cocoa farms.
Further support will come by making the requisite inputs such as fertilizers, available for cocoa farmers to buy to increase farm productivity. Additionally, cocoa farmers will continually be supplied with certified planting materials that are drought-tolerant, early bearing and high yielding.
Dr Akoto said the Ghana Cocoa Board (COCOBOD), has also made accessible resources, jute sacks and related coordinated operations for the smooth start of the 2022/2023 main crop season.
He noticed that to guarantee a fair way of life for Ghanaian cocoa farmers after retirement, the Cocoa Farmer’s Pension Scheme will move from the pilot phase to the implementation phase, after the completion of the farm mapping and enumeration component of the Cocoa Management System (CMS) by the end of October.
Once completed, the CMS will also establish a national mandatory traceability system which will be transparent and accountable. It will ensure that all Ghana cocoa beans are traceable from the port of shipment to the plot of land that produced the beans.
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