Audio By Carbonatix
Ghana has increased the farmgate price paid to cocoa farmers by 58.26% to GH¢33,120 per tone for the 2023/2024 crop season.
The new price takes effect from April 5, 2024.
The move, according to sources, is to share profits from rising global prices and deter farmers from bean smuggling.
Cocoa prices have more than tripled over the last year as disease and adverse weather in Ghana and neihbouring Côte d'Ivoire pushed the global market to a third successive deficit.
Ghana's state-guaranteed cocoa price is presently GH¢20,943 cedi ($1,574.66) per tone or about GH¢21 per kilogramme.
Côte d'Ivoire on Tuesday, April2, 2024, raised its farmgate price to 1,500 CFA francs ($2.47, or about GH¢33) per kilogramme for the April-to-September mid crop of the 2023/24 season, up from 1,000 CFA francs last season.
Latest Stories
-
Nadji Abdul Salem Kanawetey
3 hours -
‘Hounded and harassed’: The former pop star taking on Uganda’s long-time president
8 hours -
V/R: 90-year-old man allegedly murdered
8 hours -
Semenyo named Man of the Match in flawless Manchester City debut performance
8 hours -
‘Humble’ Antoine Semenyo steals show in FA Cup mauling
9 hours -
Deputy AG confirms US authorities have helped Ghana to arrest one fugitive
9 hours -
US military strikes Islamic State group targets in Syria, officials say
10 hours -
Bob Weir, Grateful Dead co-founder, dies aged 78
10 hours -
Author Chimamanda Ngozi Adichie’s family accuse hospital of negligence over son’s death
10 hours -
Blockbuster AFCON semi-finals confirmed as Morocco face Nigeria, Senegal play Egypt
10 hours -
Ofori-Atta could be in Ghana sooner than expected – Deputy AG reveals
11 hours -
IMANI’s Franklin Cudjoe credits Mahama-Forson duo for fiscal reset
12 hours -
Prof. Asuming credits Mahama administration with restoring national optimism
13 hours -
‘No time for kenkey parties’: COPEC boss warns against economic complacency despite recovery
13 hours -
Visa revocation, ICE detention, and the limits of Ghana’s jurisdiction
15 hours