Government increases Cocoa Producer Price from ¢8,420 to ¢10,500
President Nana Addo Dankwa Akufo Addo has announced that Cocoa Producer Price has been increased to ¢10,560.
Speaking at the launch of the Cocoa rehabilitation program at Sefwi in the newly created Western North Region, President Nana Akufo Addo noted that, Cocoa Producer Price has been increased from the old price of ¢8,420 to a new price of ¢10,560.
According to the President, the New Cocoa Producer Price of ¢8,420 per ton which is equivalent to ¢660 per bag of Cocoa will take effect from the 1st of October 2020.
Nana Akufo Addo in his speech to the Cocoa Farmers said;
“I will like to take advantage of this historic event of the launch of the Cocoa rehabilitation program to announce a new Cocoa Producer Price for our Farmers for the 2020 / 2021 season.
The current 2019/2020 Cocoa Producer Price of 8,420 Cedis per metric tonne, ie 514 cedis per bag was an 8.2% increase over the 2018/2019 Producer Price of 7,615 which is 475 cedis per bag.
Beginning on 1st October, 2020 this year, I’m happy to announce the award of a new Cocoa Producer Price of ten thousand five hundred and fifty Cedis (¢10,560) per metric ton equivalent to ¢660 per bag for the coming 2020/2021 Cocoa season.”
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