The Ghana Cocoa Board (COCOBOD) has announced an increase in producer price of cocoa for the 2023/2024 crop year, effective April 5.
With the new increment, producers will enjoy a 58.26 percent, with a bag of cocoa now GHS2,070.
This was contained in a press statement released on April 5, 2024.
In the statement, COCOBOD, explained that the decision was required, as it will boost the income of farmers.
“The Producer Price of cocoa has been increased by 58.26% from GH¢20,928 per tonne to GH¢33,120.00 per tonne for the rest of the 2023/24 cocoa season. This figure translates into GH¢2,070 per bag of 64 kg gross weight and takes effect from Friday, 5th April 2024,” part of the statement read.
“The increase in the producer price of cocoa has become necessary to enhance the income of cocoa farmers in line with the vision of the NPP government and in response to the rising prices of cocoa on the international market.”
Additionally, COCOBOD indicated that has revised the Buyers’ margin to GH¢2,980.00 per tonne for the rest of the 2023/24 cocoa season.
“Government has also approved a review of the Buyers’ margin to GH¢2,980.00 per tonne for the rest of the 2023/24 cocoa season. This increase is expected to cushion the LBCs against the increase in finance cost due to an increase in the producer price of cocoa.”
See full statement:
