Price increases for cocoa producers to GH₵3,100

President Nana Akufo-Addo has announced a slight increase in the cocoa producer price for the 2024/2025 crop season, raising the price from GH₵3,000 to GH₵3,100 per 64kg bag, marking a 0.03% increase. This adjustment, which amounts to GH₵49,600 per tonne, is designed to help align cocoa prices with current market conditions and offer additional support to Ghanaian cocoa farmers.

The announcement was made during the National Farmers’ Day awards ceremony in Accra on November 8, where President Akufo-Addo explained that the price hike was based on recommendations from the Producer Price Review Committee. He expressed confidence that the increase would provide much-needed stability for farmers, especially in light of the challenging economic circumstances they are currently facing.

“I am pleased to announce, based on the advice of the Producer Price Review Committee, that the cocoa producer price has been increased from GH₵48,000 to GH₵49,600 per tonne, translating to an increase from GH₵3,000 to GH₵3,100 per bag,” said President Akufo-Addo, reaffirming his commitment to supporting the agricultural sector. He also noted that the government would continue to periodically review cocoa prices as part of its efforts to enhance farmers’ income security.

At the same event, Nana Owusu Achiaw Brempong, a 70-year-old farmer from the Sekyere Central District in the Ashanti Region, was honored as the National Best Farmer. With over 50 years of farming experience, Nana Owusu runs North American Farms, which employs 168 workers and cultivates a variety of crops, including cocoa and cashew. He was awarded a grand prize of one million Ghana cedis for his exceptional contribution to agriculture.

In his speech, Nana Owusu called on the government to invest more in the agricultural sector to ensure food security and further support farmers. His recognition serves as a reminder of the vital role farmers play in the nation’s development and the importance of sustaining efforts to improve agriculture in Ghana.

The National Farmers’ Day event, held simultaneously across the country, celebrated the vital contributions of farmers to the Ghanaian economy and underscored the government’s ongoing commitment to advancing agricultural policies and initiatives.