President Nana Akufo-Addo has announced a modest increase in the cocoa producer price, raising it from GH₵3,000 to GH₵3,100 per 64kg bag for the 2024/2025 crop season.
This adjustment, equivalent to GH₵49,600 per tonne, represents a 0.03% rise from the rate set in September and aims to align cocoa prices with current market trends while providing additional support to Ghanaian cocoa farmers.
The President announced this during the National Farmers’ Day awards ceremony in Accra on Friday, November 8.
He explained that the increase followed recommendations from the Producer Price Review Committee and expressed confidence that it would help stabilize farmers’ incomes amid ongoing economic challenges.
“I am pleased to announce, based on the advice of the Producer Price Review Committee, an increase in the producer price of cocoa from GH₵48,000 to GH₵49,600 per tonne, effectively raising the bag price from GH₵3,000 to GH₵3,100,” Akufo-Addo stated.
He reiterated his administration’s commitment to enhancing the welfare of cocoa farmers by ensuring periodic price reviews to secure their income.
During the ceremony, Nana Owusu Achiaw Brempong, a 70-year-old farmer from the Sekyere Central District in the Ashanti Region, was crowned National Best Farmer.
With over 50 years in farming, Nana Owusu has built North American Farms, which employs 168 workers and cultivates diverse crops, including cocoa and cashew.
He was awarded a grand prize of one million Ghana cedis in recognition of his lifelong dedication to agriculture.
In his acceptance speech, Nana Owusu emphasized the need for increased national efforts towards food security and urged the government to invest more in the agricultural sector for the benefit of farmers and the overall economy.
The National Farmers’ Day celebration, held simultaneously across the country, recognized the invaluable contributions of farmers to Ghana’s economy.
The event also underscored the government’s ongoing commitment to advancing agriculture through improved policies and support initiatives.