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The Government of Ghana Thursday announced GH�5,520.00 as the new producer price per tonne of cocoa for the 2014/2015 season which opens on Friday, 3rd October 2014. The amount represents an increase of GH�2,128.00 per tonne or 62.74% from the previous price of GH�3,392.00. The government, per a statement issued by the Minister of Finance, Seth Terkper, also announced that together with COCOBOD, it would pay GH�5.00 as bonus per each 64kg gross weight bag of cocoa to farmers in the 2014/2015 crop season. The new price regime takes effect from Friday, October 3, 2014. The move is expected to incentivise cocoa farmers and boost cocoa production in the country. "There have been positive developments on the world cocoa market since the last review of the Producer Price in October 2013. It is against these positive price developments that the Producer Price Review Committee met and decided on the upward review of the Producer Price," the statement said.