Cocoa Prices Hit A 28% Price Increment For Producers…
President Nana Addo Dankwa Akufo-Addo, on Thursday, announced a 28% price increment in cocoa prices for producers during a 3-day tour of the Western North Region.
He made the announcement when he launched the Cocoa Rehabilitation Programme, in Sefwi Wiawso.
“Beginning 1st October 2020, I am happy to announce the award of a new cocoa producer price of ten thousand, five hundred and sixty Cedis (GH¢10,560) per metric ton, equivalent to six hundred and sixty Cedis (GH¢660) per bag for the coming 2020/21 crop year. This represents a hike of more than twenty-eight per cent (28%) over the price obtained in the outgoing crop year of 2019/2020”.
The current 2019/20 producer price of eight thousand, four hundred and twenty Cedis (GH¢8,240) per metric ton, i.e. five hundred and fourteen Cedis (GH¢514) per bag, was an 8.2% increase over the 2018/2019 price of seven thousand, six hundred and fifteen Cedis (GH¢7,615), i.e. four hundred and seventy-five Cedis (GH¢475) per bag.
“By this new producer price, we have kept faith with our commitment, under the international arrangement with Côte d’Ivoire and global stakeholders, by awarding to our farmers the full four hundred United States dollars per metric ton (US$400/MT) Living Income Differential (LID).” The president stated.