The government has maintained the Cocoa Producer Price of ¢10,560 per metric ton for the new crop season which takes effect from October 8, 2021.
This translates into ¢660 – the same price that farmers were given in the 2019/2020 crop. It represents 87.15% of the FOB value.
Announcing the cocoa producer price, the Minister of Food and Agriculture, Dr Owusu Afriyie Akoto, stressed that the price, which includes a Living Income Differential of $400 per metric ton, is the highest in the sub-region, despite a dip in global cocoa prices.
“This price is the highest within the sub-region. This demonstrates the government’s commitment to sustain the interest of the cocoa farmer in producing cocoa and also to improve the well-being of cocoa farmers. The producer price of cocoa was maintained when all cocoa producing countries were contemplating a reduction in their farm gate prices following a slump in the terminal cocoa market as a result of the Covid-19 pandemic,” he stated.
Through the Ghana-Cote d’Ivoire Initiative, Ghana continued to implement the Living Income Differential which is helping to improve the welfare of cocoa farmers in both countries.
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The Minister said cocoa farmers in Ghana and Cote d’Ivoire today are better-off than their counterparts in other cocoa producing countries as a result of this noble initiative.
Cocoa Producer Price
The producer price is the price at which the country’s cocoa sector regulator – Ghana Cocoa Board (COCOBOD) – buys the produce of cocoa farmers at the farmgate.
The prevailing cocoa producer price for the 2019/20 season was ¢515 per 64kg bag of beans, which was an 8.42% increase over the ¢475 per bag in the 2018/19 season.
