Government has reviewed upwards the producer price of Cocoa for the 2015 - 2016 crop season by 21.74% per ton.
The price has been increased from five thousand five hundred (GH¢5, 500), to six thousand seven hundred and twenty, Ghana cedis (GH¢6, 720).
Farmers will now be paid four hundred and twenty Ghana cedis (GH¢420) per bag of 64kg, which represent about 73% of Free on Board Price.
Government has also decided to pay a bonus of five Ghana cedis per bag of 64 kg. This adds up to four hundred and twenty-five Ghana cedis (GH¢425) per bag of 64kg.
The Deputy Minister of Finance, Cassiel Ato Forson, who announced the new price at a meeting of the Producer Price Review Committee (PPRC) meeting today, charged License Buying Companies LBC to pay the farmers accordingly.
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| Deputy Minister of Finance, Cassiel Ato Forson |
He said government in its quest to ensure that Cocoa Farmers are insulated against the shocks on the international commodity market has put in place measures to that effect.
Mr. Ato Forson also pledged government`s commitment to continue other interventions such as the rehabilitation and replanting of over aged cocoa farms.
GBC
