President Nana Akufo-Addo has announced an increase in the cocoa producer price from GH₵3,000 to GH₵3,100 per 64kg bag, representing a slight rise of 0.03% from the previous rate set in September for the 2024/2025 crop season.

The adjustment, which translates to GH₵49,600 per tonne, is intended to align cocoa prices with current market conditions and provide additional support to Ghanaian cocoa farmers.

Speaking at the National Farmers’ Day awards ceremony in Accra on Friday, November 8, President Akufo-Addo stated that the increase followed recommendations from the Producer Price Review Committee.

He expressed confidence that the new price would help stabilise farmers’ incomes, especially given the various economic challenges farmers are currently facing.

“I am pleased to announce, on the advice of the producer price review committee, 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,” Akufo-Addo said, reiterating his commitment to the welfare of farmers.

He noted that the directive to review prices periodically is a step towards enhancing income security for cocoa farmers.

At the event, Nana Owusu Achiaw Brempong, a 70-year-old farmer from Sekyere Central district in the Ashanti Region, was named the National Best Farmer.

With a farming journey spanning 50 years, Nana Owusu has built North American Farms, an enterprise employing 168 workers and cultivating a variety of crops, including cocoa and cashew. His dedication and commitment to the agricultural sector were celebrated with a grand prize of one million Ghana cedis.

In his acceptance speech, Nana Owusu called for increased national efforts to ensure food security, urging the government to invest further in the agricultural sector to benefit farmers and the economy.

His recognition highlights the crucial role of farmers in Ghana’s development and the importance of supporting the sector to maintain sustainable food production.

The National Farmers’ Day celebration took place simultaneously across the country, recognising the efforts of farmers nationwide.

The event honoured their significant contributions to Ghana’s economy and highlighted the government’s ongoing support through improved policies and initiatives aimed at advancing agriculture.