Key information
- President Nana Akufo-Addo announced a slight increase in cocoa producer prices for the 2024/2025 campaign.
- The price of the 64kg bag will increase from GH₵3,000 to GH₵3,100, representing a modest increase of 0.03 percent.
- The move aims to stabilize farmers' incomes and provide additional support to Ghanaian farmers facing economic difficulties.
A slight increase in cocoa producer prices was announced by President Nana Akufo-Addo. Beginning with the 2024/2025 crop year, the price of 64kg bag will increase from GH₵3,000 to GH₵3,100, representing a modest increase of 0.03 percent. This adjustment results in a price per tonne of GH₵49,600. The President explained that the move aligns cocoa prices with current market conditions and provides additional support to Ghanaian farmers facing economic challenges.
President Akufo-Addo revealed this during the National Farmers Day awards ceremony, held in Accra on November 8. He stressed that the price increase was based on the recommendations of the Producer Price Review Committee, aimed at stabilizing farmers' income. The President reaffirmed his commitment to the welfare of farmers and stressed the importance of periodic price reviews to improve their income security.
Notable achievements
The National Best Farmer Award was given to Nana Owusu Achiaw Brempong, a 70-year-old farmer from the Ashanti region. Brempong dedicated 50 years to agriculture, establishing North American Farms, which employs 168 people and grows a variety of crops, including cocoa and cashews. His dedication earned him a grand prize of one million Ghana cedis.
In his acceptance speech, Mr. Brempong called for intensifying national efforts on food security, urging the government to prioritize investments in the agricultural sector, for the benefit of farmers and the economy. This recognition highlights the critical role farmers play in Ghana’s development and the importance of supporting the sector for sustainable food production.
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