Producer price of cocoa increase by 21%

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Government has increased the producer price of cocoa by 21% from GH¢10,560 per tonne to GH¢12,800.00 per tonne.

The producer price represents 89.99% of the net FOB value.

The figure thus translates into GH¢800 per bag of 64 kg. gross weight and takes effect from Friday, 14th October, 2022.

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This was made known in a statement issued by the Minister of Food and Agriculture, Dr Owusu Afryie Akoto, on Wednesday October 5, following a committee review of the cocoa prices.

“We are pleased to announce that Government has increased the producer price of cocoa by 21% from GH¢10,560 per tonne to GH¢12,800.00 per tonne. The producer price represents 89.99% of the net FOB value.

“The 21% 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. Government will continue to implement initiatives to build a robust, resilient and sustainable cocoa industry where cocoa farmers and their communities will thrive.

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“To ensure a decent standard of living for Ghanaian cocoa farmers after retirement, Government will from November 2022 move from the pilot phase to the implementation phase of the Cocoa Farmer’s pension scheme.

“The Scheme remains an unprecedented achievement under His Excellency Nana Addo Danquah Akufo Addo,” the statement added.

As part of the agenda, the Committee also approved the rates and fees for all other stakeholders in the supply chain to which include the Buyers’ margin, Hauliers’ rate, warehousing and internal marketing costs, as well as fees for disinfestation, grading and sealing and scale inspection.

Portion of the statement said government will not relent its effort to support cocoa farmers through the pests and diseases control programme (Mass Spraying) and rehabilitation of diseased cocoa farms.

“Government will also assist cocoa farmers by making the requisite inputs such as fertilizers available for farmers to buy to increase farm productivity.

“Government is committed to continuing to supply certified planting materials that are drought tolerant, early bearing and high-yielding,” it stressed.

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