Cocoa farmers will witness an increase in the farm gate price of Cocoa for the 2022/2023 crop season. A 64kg bag of cocoa with a producer price of GHS660 will now be GH₵800. A tonne of cocoa which was GH₵ 10,560 hence will be GH₵12,800.
The minister for food and Agriculture, Dr. Owusu Afriyie Akoto revealed this at a press briefing in Accra on Wednesday, October 5, 2022. The new price is expected to take effect from Friday, October 7, 2022.
“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. The 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 stated.
COCOBOD has secured a syndicated loan of $1.13 billion for the 2022/2023 crop season.
However, Ranking Member on the Finance Committee of Parliament, Dr. Cassiel Ato Forson has argued that the 21% increase in the producer price of cocoa which translates to GHS800 is way too slight.
Story by Daniel Akpor Adjei
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