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
-
Ghana’s new envoy to U.S. and diaspora lawyers to launch ‘Law Day’ for citizens
5 hours -
Mahamud Iddi wins TCL Electronics worth GH¢100,000 in EGL’s Akye3de3 Kese3 Promotion
7 hours -
Lands Minister, NAIMOS mourn fallen soldier killed during anti-galamsey operation in Obuasi
7 hours -
Ghana Impact Project donates $20k to restore mobility for children
7 hours -
JoyNews’ Kwaku Asante named Best Radio and TV Journalist in Parliamentary Reporting
8 hours -
Education Ministry updates EMIS indicators to strengthen ICT integration in schools
9 hours -
Interior Ministry declares Christmas, Boxing Day and New Year’s Day public holidays
9 hours -
President Mahama directs Finance Ministry to disburse $78m for completion of Takoradi–Agona-Nkwanta road
9 hours -
Interior Minister lauds NIA staff for dedication, pledges continued government support
9 hours -
First Atlantic Bank will run a “proper and decent business” to protect shareholder value – CEO
10 hours -
First Atlantic Bank targets African expansion as IPO strengthens capital, governance
10 hours -
First Atlantic Bank CEO attributes IPO and GSE listing decision to renewed confidence in Ghana’s economy
10 hours -
GPL 2025/26: Bechem United end All Blacks 6-game unbeaten run
10 hours -
Eggs fly off shelves as shoppers throng The Multimedia Group’s X’mas Egg Market on final day
11 hours -
Bankable energy: Why Africa’s downstream sector is the next global investment frontier
11 hours