Government has sanctioned 21.74% increase in the producer price of cocoa for the 2015/2016 crop season effective October 2, 2015.
[contextly_sidebar id=”I2MammCpm4DCpO4lxEFwiel7lyTjwKmB”]The Producer Price Review Committee (PPRC) on cocoa has agreed on the upward adjustment from 350 cedis to 420 cedis on a 64 kilogram bag of cocoa.
The current price per tonne is 6,720 cedis from the previous 5,520 cedis representing an increase of 1200 cedis.
The committee has also agreed on the payment of a 5 cedi bonus per cocoa bag to farmers.
A deputy minister of finance and chairman of the PPRC Cassiel Ato Forson announcing the latest figures at a press briefing said all licensed buying companies must pay the latest prices to farmers or face sanctions.
“The price per bag a farmer will receive is 425 cedis, so please LBCs take note and the LBCs must ensure the farmers are paid at the time of the sale of their produce”, he charged.
Ghana Cocoa Board is also projecting Cocoa production output for the crop season between 850,000 tonnes and 900,000 tonnes.
By: Rabiu Alhassan/citifmonline.com/Ghana