The government has increased the cocoa producer price by 21 per cent for the 2022/2023 cocoa season.
By this, a tonne of the commodity would now be sold at GH¢12,800 from GH¢10,560 per tonne.
This translates into GH¢800 per bag from the GH¢660 for the just-ended cocoa farming season and takes effect from October 7, 2022.
The Minister of Food and Agriculture, Dr Owusu Afriyie Akoto, announcing the new price in Accra yesterday said the Producer Price Review Committee considered a range of factors before arriving at the new price.
The new pricing regime, he said, underscored government’s commitment to the cocoa sector in particular and the agricultural sector in general.
“The 21 per cent rise in the producer price of cocoa is a testament of government’s resolve to ensure farmers earn a decent income and make cocoa farming ulcerative,” he said.
Government, Dr Akoto said, would continue to implement initiatives to build robust, resilient and sustainable cocoa industry where cocoa farmers and their communities would thrive.
According to Dr Akoto, the rates and fees for all stakeholders in the supply chain have been also been approved.
“These include the buyer’s margin, haulier’s rate, warehousing and internal marketing costs, as well as fees for disinfection, grading and sealing and scale inspection.”
To enhance productivity, Dr Akoto said government would continue to support farmers through the pests and disease control programme and rehabilitation of diseased farms.
“Government will also assist cocoa farmers by making the requisite inputs such as fertilisers available for farmers to buy to increase productivity,” he said.
Noting that the European Union would soon legislate regulations and due diligence on deforestation and forest degradation, he said it placed enormous responsibility on “us” to ensure that cocoa is sustainably produced in Ghana.
“Government has not relented in ensuring that cocoa produced in Ghana is free from deforestation and child labour,” he assured adding that “COCOBOD is developing the cocoa management system to enable Ghana to meet the EU due diligence requirements.”
He disclosed that government would from November 2022 move from the pilot phase to the implementation phase of the Cocoa Farmers’ Pension Scheme as part of measures to enhance improved living standard of cocoa farmers in retirement.
He assured that the COCOBOD had made available funds and related logistics for a smooth take-off of the 2022/2023 main crop season.
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