Akufo-Addo announced a slight increase in the price of cocoa producers for the 2024–2025 growing season.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

President Nana Akufo-Addo has announced a marginal increase in the cocoa producer price for the 2024/2025 crop season, raising it from GH₵3,000 to GH₵3,100 per 64kg bag.

The 0.03% increase, set by the Producer Price Review Committee, translates to GH₵49,600 per tonne, up from GH₵48,000 per tonne.

The adjustment by the government aims to support Ghanaian cocoa farmers by aligning producer prices with market conditions.

Announcing the marginal increase in the cocoa producer price at the National Farmers’ Day awards ceremony in Accra, President Akufo-Addo emphasized that the price review would help stabilise incomes for farmers, particularly in light of current economic pressures. 

Source: newsthemegh.com