The Producer Price Review Committee (PPRC) of the Ghana Cocoa Board has announced an upward adjustment in cocoa prices.
Effective today, a 64-kilogramme bag of cocoa would now sell at GH¢3, 625 from GH¢3, 228; an increment of a little under GH¢400.
This translates into GH¢58, 000 per tonne and comes barely two months after the previous producer price – GH¢3, 228 was announced at the start of the new cocoa season in August.
Announcing the new price at an emergency meeting in Accra yesterday, the Minister for Finance, Dr Cassiel Ato Baah Forson, said the decision was informed by a forecast of two indicators; world market price and the exchange rate.
According to Dr Forson, the forecasts proved favourable to enable an increment in farm gate price of the commodity.
The COCOBOD, Dr Forson, MP, Ajumako/Enyan/Esiam, said would continue to pursue cocoa enhancement programmes to increase the yield of farmers.
“In particular, COCOBOD will intensify the supply of free cocoa fertilisers – both liquid and granular – free insecticides, fungicides, and is on track to implement the new tertiary education scholarship scheme for children of cocoa farmers in the 2026/2027 academic year,” he said.
By the new price, Dr Forson said Ghana now offers competitive price to its farmers to curb the incident of smuggling of the produce into neighbouring countries.
The government, working with stakeholders, Dr Forson said would continue to place the interest of the cocoa farmer at the front burner of the cocoa industry to ensure sustainability.
BY JULIUS YAO PETETSI
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