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
-
Press Freedom questioned after High Court ruling
24 minutes -
TMPC urges caution and vigilance in use of traditional and alternative medicine
27 minutes -
Ada PWDs boycott Assembly disbursement over procurement concerns
35 minutes -
Christmas surge in ride-hailing fares hits consumers
49 minutes -
Joy FM Party in the Park kicks off today at Aburi Botanical Gardens
1 hour -
How a new who declaration could change traditional medicine
1 hour -
Evidence shows Ghana needs an independent prosecutorial system – Prof H. Kwasi Prempeh
1 hour -
Selective justice is destroying trust in Ghana’s anti-corruption system – Prof H. Kwasi Prempeh
2 hours -
Politician Attorney General model is broken and no longer credible – Constitution Review Chair
2 hours -
Indonesians raise white flags as anger grows over slow flood aid
3 hours -
Why passport stamps may be a thing of the past
3 hours -
Pope Leo urges ‘courage’ to end Ukraine war in first Christmas address
3 hours -
Commentary on Noah Adamtey v Attorney General: A constitutional challenge to Office of Special Prosecutor
3 hours -
Ghana’s democratic debate is too insular and afraid of change – Constitution Review Chair
3 hours -
24/7 campaigning is a choice, not democracy – Constitution Review Chair
4 hours