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Cocoa now GH¢800 per bag

The producer price for cocoa has been set by the government at GH 800 for each 64kg bag.

The new pricing will be in effect starting on Friday, October 7, 2022, for the crop year 2022-2023.

This shows an increase of 21% from Ghana cedi 10 560 to Ghana cedi 12 800 per ton.

Dr. Owusu Afriyie Akoto, the Minister of Food and Agriculture, made the declaration today, October 5, 2022, in Accra during a news conference.

Cocoa now GH¢800 per bag

“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”, the Minister said.

The most recent farm gate price increase in Ghana was in 2020, from GHS515 to GHS660.

Following the $400 Living Income Differential on each tonne of cocoa, there was a historic 28% increase.

The government will transition the Cocoa Farmer’s Pension Scheme from the pilot phase to the implementation phase in November 2022 in order to guarantee a respectable quality of life for Ghanaian cocoa growers after retirement.

All other supply chain participants’ rates and fees have also been approved by the Producer Price Review Committee.

These costs include the haulers’ rate, the buyers’ margin, the cost of warehousing and internal marketing, as well as the price of scale inspection, grading, and pest control.

Akosua Boatemaa

I'm Yours Truly, Blogger Akosua Boatemaa. I'm here to feed Your eyes and Ears with Authentic News Updates.

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