President John Mahama has challenged cocoa farmers in the country to endeavor to meet international market demands.

The president who was addressing a section of farmers from across the country at the flagstaff house said the recent increase in cocoa producer prices is meant to encourage them to do more to improve upon cocoa yields.

It is also to encourage younger generations to explore cocoa farming as a business, the president added.

President John Mahama urged the farmers to take advantage of emerging markets for their produce.

The cocoa farmers and their leadership as well as officials of the COCOBOD thronged the flagstaff house to express appreciation to government for the new cocoa prices.

It follows government's review of the producer price from GH¢3,392 to GH¢5,520 per tonne for the 2014/15 cocoa season.

The producer price increment represents 62.74% and translates into GH¢345 per bag of 64kg of cocoa.

The president reminded the farmers that despite the excitement about Ghana's oil industry,  cocoa continues to earn the country about three billion dollars annually.

Alhaji Alhassan Bukari President of the Cocoa, Coffee and Sheanut Farmers Association was full of praise to the government for increasing the prices.