Ghana adjusts cocoa producer price to GH₵7,520 per tonne

The Ghana Cocoa Board (COCOBOD) has reviewed upwards, the producer price of cocoa from GH₵6,720.00 per tonne to GH₵7,520 per tonne for the 2016/2017 season.

A statement issued in Accra and copied to the Ghana News Agency said the Board has hence announced new cocoa prices for the cocoa season pegging it at GH₵470 per bag of 64kg gross weight.

The statement signed by Dr Stephen Kwabena Opuni, the Chief Executive Officer of COCOBOD said, the new rate for the cocoa price took effect from October 1.

Dr Opuni said: “COCOBOD and Government have decided to pay bonus to farmers at the time of sale of their produce” which will trigger the payment of additional GH₵5.00 per bag.

Dr Opuni explained that every farmer had to be paid GH₵470.00 per bag with GH₵5.00 as bonus summing up to GH₵475.00 per bag and cautioned buying companies to ensure total compliance with new producer prices of the crop.

“Licenced Buying Companies are to take note of this and pay our cherished farmers accordingly”, he said adding “all Licenced buying Companies must comply”.

Dr Opuni advised all cocoa farmers to insist on the payment to ensure they are paid GH₵475.00 per bag of 64kg gross weight of their produce.

Source: GNA