The government has increased the producer price of cocoa by 21% from GHC10,560 to GHC12,800.00 per tonne with effect from Friday, 14th October 2022.
The price represents 89.99% of the net FOB value which corresponds to GHC 800 per bag weighing 64 kg gross.
A statement from the Ministry of Food and Agriculture said the 21% increase demonstrates the government’s determination to ensure that farmers earn a decent living and make cocoa farming profitable.
“The government will continue to implement initiatives aimed at establishing a robust, resilient, and sustainable cocoa industry in which cocoa farmers and communities can thrive,” it said.
The statement stated that the government would begin implementing the Cocoa Farmer’s Pension Scheme in November 2022 to guarantee that retired Ghanaian cocoa growers live well in old age.
It said the Producer Price Review Committee (PPRC) has also approved the rates and fees for all other supply chain stakeholders.
“Buyers’ margin, Haulers’ rate, warehousing and internal marketing costs, as well as fees for disinfestation, grading and sealing, and scale inspection, are all included,” it added.
The release reiterated the government’s resolve to continue supporting cocoa farmers through the pests and diseases control programme (Mass Spraying) and rehabilitation of diseased cocoa farms.
“The government is committed to continuing to supply certified planting materials that are drought tolerant, early bearing and high-yielding,” it noted.
The statement disclosed that the European Union (EU) would soon pass regulations on due diligence on Deforestation and Forest Degradation, adding that it would place enormous responsibility on the government to ensure that cocoa is sustainably produced in Ghana.
It hinted that the government, through COCOBOD, is developing the Cocoa Management System (CMS) to enable Ghana to meet the EU due diligence requirements.
“Once completed, the CMS will establish a national mandatory traceability system which will be transparent and accountable.
“This will ensure that all Ghana cocoa beans are traceable from the port of shipment to the plot of land that produced the beans. This is a key requirement under the European Union Due Diligence requirements,” it stated.
Irene Wirekoaa Osei, ISD