President Nana Akufo-Addo has announced a marginal increase in the cocoa producer price for the 2024/2025 crop season, raising it from GH₵3,000 to GH₵3,100 per 64kg bag.
The 0.03% increase, set by the Producer Price Review Committee, translates to GH₵49,600 per tonne, up from GH₵48,000 per tonne. The adjustment by the government aims to support Ghanaian cocoa farmers by aligning producer prices with market conditions.
Announcing the marginal increase in the cocoa producer price at the National Farmers’ Day awards ceremony in Accra, President Akufo-Addo emphasized that the price review would help stabilise incomes for farmers, particularly in light of current economic pressures.
“I am pleased to announce, 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, raising the price from GH₵3,000 to GH₵3,100 per bag,” the President said, underscoring his commitment to cocoa farmers’ welfare.
The President highlighted that periodic price reviews are essential to enhance income security for cocoa farmers and improve the industry’s resilience.
At the event, Nana Owusu Achiaw Brempong, a seasoned farmer from the Sekyere Central district in the Ashanti Region, was awarded the title of National Best Farmer. With 50 years of farming experience, Nana Owusu established North American Farms, an enterprise employing 168 workers and cultivating a variety of crops, including cocoa and cashew.
He was celebrated with a grand prize of one million Ghana cedis.
In his acceptance speech, Nana Owusu called for strengthened national efforts towards food security, urging the government to increase investments in the agricultural sector for the benefit of farmers and the broader economy.
The 39th National Farmers’ Day event, which took place concurrently nationwide, paid homage to the crucial role of farmers in Ghana’s development, spotlighting the government’s commitment to advancing agriculture through supportive policies and targeted initiatives.
