• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Agribusiness

Cocoa Producer Price Set For Major Dollar-Denominated Hike, But Strong Cedi May Limit Gains, Says COCOBOD

2 months ago
in Agribusiness, Business, Economy, Features, highlights, Home, home-news, latest News, Trade
1 min read
0 0
1
1.8k
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Cocoa Producer Price Set For Major Dollar-Denominated Hike, But Strong Cedi May Limit Gains, Says COCOBOD 

Ghana’s cocoa producer price is expected to undergo a significant upward adjustment in dollar terms ahead of the next crop season, in response to soaring global cocoa prices. However, the Ghana Cocoa Board (COCOBOD) has cautioned that the sharp appreciation of the Ghanaian cedi could erode the real benefits for farmers when converted into local currency.

The development comes as part of government and industry efforts to align domestic producer prices with the bullish international cocoa market, which has witnessed historic price rallies in recent months due to supply constraints and speculative pressures.

Speaking on PM Express, Chief Executive Officer of COCOBOD, Dr. Randy Abbey, confirmed that the Board is preparing for a substantial increase in the dollar value of the producer price. He, however, acknowledged that the current strength of the cedi may blunt the intended financial impact on cocoa farmers.

“The truth is that we are convinced and it is going to happen. On the dollar side, we will see its impact. Based on the strength of the cedi, in cedi terms, you may not see anything significant,” Dr. Abbey explained. “What we are seeing now is a situation where global prices are high, and that would normally translate into higher incomes for our farmers. But with the cedi appreciating sharply, the gains could be reduced when translated into Ghana cedi.”

He noted that while global price conditions favour a marked increase, COCOBOD is also weighing the domestic currency dynamics to ensure farmers are not shortchanged in real income terms.

According to Dr. Abbey, COCOBOD remains committed to safeguarding the welfare of farmers and is currently engaging stakeholders to devise a pricing mechanism that fairly reflects both international trends and the realities of the local economy.

RelatedPosts

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

“We must strike a balance. Farmers deserve to benefit from the favourable market conditions, and we are working with stakeholders to ensure the final producer price reflects both global trends and domestic realities,” he stated.

The anticipated adjustment comes amid broader concerns over how exchange rate fluctuations and inflation affect income stability for primary producers in Ghana’s key export sectors.

Cocoa remains a vital source of foreign exchange for Ghana, and the producer price is a critical policy lever for both economic sustainability and rural livelihoods. Ensuring that cocoa farmers receive a fair share of the market gains is therefore central to maintaining production levels and sectoral resilience.

Tags: But Strong Cedi May Limit Gainscocoa producer priceCocoa Producer Price Set For Major Dollar-Denominated HikeSays COCOBODStrong Cedi

Comments 1

  1. Changa Mercy says:
    2 months ago

    This standpoint by the CEO is unnecessary.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

RMA Demands Public Inquiry into Unibank Collapse, Slams AG’s Decision to Drop Charges

Trending

Features

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe The Ghana Airports Company Limited (GACL) has officially...

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.