Producer Price Of Cocoa Increased For A Better Harvest Season

Government of Ghana has declared a 45 percent increase in the producer price of cocoa for the 2024/2025 harvest season.

With this, a 64 kilogram pack of cocoa beans has increased to GH¢3,000 from GH¢2,070.

As indicated by the Minister for Food and Agriculture, Dr. Bryan Acheampong, the total increments for the whole season represents 129.6 percent.

“On September 9, 2023 in Tepa we officially announce the opening of the cocoa season. In between time, we have been offering different prices on the market during trading. The most significant one worth announcing was the increase from GH¢1300 to GH¢2070. So in announcing a new price today, you have to now relate it to what announcement you made at the beginning of your season. At the beginning of last year’s season and the increase now 129.6 percent” he said.

Toward the beginning of the 2023/2024 harvest season, a sack of 64kg of cocoa beans was sold at GH¢1,300 and was consequently increased to GH¢2,070 when the spot price went up on the world market under a similar period. For the 2024/2025 harvest season, the producer price has been increased to GH¢3,000.

The new price is an increment of 129.6% for the 2024/2025 harvest season.

With this 2024/2025 season price, it has increased to GH¢3,000 from GH¢2,070 representing 45% flood.

Homegrown Cocoa Is The Most Ideal Way. Asantehene Speaks

Dr. Acheampong made it clear that COCOBOD anticipates producing 650,000 metric tons.

He expressed that satisfactory measures have been introduced to help farmers increase production, using modern farming practices.

The objective would have been over the projection if the West African region had not experienced bad weather conditions, he said.

Dr. Acheampong expressed optimism COCOBOD will be able to go above its projections after the 2024/2025 season.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *