The producer price of a 64kg bag of cocoa has been raised by GH₵100, increasing from GH₵3,000 to GH₵3,100 for the 2024/2025 crop season, President Nana Addo Dankwa Akufo-Addo announced.
This adjustment, which represents a 3.33% rise from the previous rate set in September, is intended to bring cocoa prices in line with current market conditions. Speaking at the National Farmers’ Day awards in Accra on Friday, November 8, President Akufo-Addo said, “On the advice of the producer price review committee, I am pleased to announce an increase in the producer price of cocoa from GH₵48,000 to GH₵49,600 per tonne, raising the price from GH₵3,000 to GH₵3,100 per bag.”
The president noted that this increase follows his directive for periodic reviews aimed at supporting farmers’ incomes amid economic challenges.
Meanwhile, Nana Owusu Achiaw Brempong, a 70-year-old farmer from the Sekyere Central district in the Ashanti Region, was awarded the National Best Farmer title. With 50 years in agriculture, Nana Owusu manages North American Farms, employing 168 workers across a range of crops, including cocoa and cashew. He was awarded one million Ghana cedis as part of his prize and, in his acceptance speech, urged for greater measures to boost food security.
The Farmers Day celebrations were held nationwide, recognizing the contributions and dedication of farmers to Ghana’s economy.