President, Nana Akufo-Addo announced Ghana will increase the guaranteed cocoa price it pays to farmers during the 2020-21 crop season by 28.2%.
The price increase is in line with neighbouring Côte d’Ivoire being the world top cocoa producer. The two countries account for over 60% of global cocoa bean production.
The Ghana Cocoa Coffee and Sheanut Farmer Association (COCOSHE), founded in 1980 to promote unity, understanding, social, political and the economic wellbeing of it’s members across the country and restore Ghana to the status of the leading cocoa producer in the world has praised the President for the price increase.
According to COCOSHE, the producer price of a bag of 64kg of cocoa beans has been increased from GH¢ 515 to GH¢660 which translates into GH¢10, 560 per tonne.
They believe this demonstrates the government’s commitment towards improving cocoa farmers livelihoods. Cocoa farmers are relieved as the government has finally implemented the ‘Living Income Differential‘ scheme.
Alhaji Alhassan Bukari, the president of the association in a statement said,
The hand pollination, mass pruning, irrigation projects, cocoa rehabilitation programme, free seedlings and other corporate social responsibility such as the cocoa roads project have enormously supported farmers…We are not only excited at the astronomical increase in the price this year but also appreciative of the government’s recognition of the toils, passion and efforts of our gallant farmers who produce Ghana’s golden pod.
