COCOBOD sets new cocoa producer pricing to benefit cocoa farmers in GhanThe Ghana Cocoa Board (COCOBOD) has announced an increase in the producer price of cocoa, raising it from GHS 48,000.00 per tonne (GHS 3,000.00 per 64kg bag) to GHS 49,600.00 per tonne (GHS 3,100.00 per 64kg bag).
The board, in a release, highlighted this significant price increase, which took effect on Friday, November 8, 2024. The move is intended to benefit cocoa farmers in Ghana by boosting their income and supporting the industry’s relevance in the global market. “The decision also underscores the Government’s commitment to ensuring that Ghanaian cocoa farmers receive fair compensation and remain competitive in the global market,” part of the release stated.
The release issued by COCOBOD’s public affairs department emphasized three key outcomes expected from this change which are “boost farmer confidence, enhancing income stability, and strengthen the partnership between COCOBOD and the farming community.”
The Ghana Cocoa Board reaffirmed its dedication to instituting measures and policies that contribute to the growth and sustenance of Ghana’s cocoa industry.