Prime News Ghana

Gov't increases cocoa bag price by GH¢50

By Jeffrey Owusu-Mensah
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Government has increased the price per tonne of cocoa  from GH¢6800  to GH¢7600 for the 2016-2017 cocoa season.

The increment means that farmers will receive Gh¢50 more per bag of cocoa, effective October 1, 2016.

Speaking at the 2016 Cocoa Day celebrations which was under the theme: “Transforming the Cocoa Sector for Economic Growth -The Role of the Youth", at Tepa in the Ahafo Ano North District of the Ashanti region, Deputy Finance Minister, Cassiel Ato Forson was of the hope that the increment will spur farmers on to increase production in the 2016/2017 cocoa season.

According to him, the change in producer price is higher than the percentage change in the world price of cocoa, and higher than the new producer price of Ivory Coast and was aimed at minimising smuggling of cocoa beans to neighbouring Ivory Coast.

He further directed licensed buying companies to ensure that farmers are paid GH¢475 cedis per bag of 64 kg gross weight.