The Cocoa Producer Price Review
Committee (PPRC) has announced an upward adjustment to the farmgate price of cocoa for the 2024/2025 cocoa season.
The regulator will now buy a tonne of cocoa for GH¢48,000 from GH$33, 120.00 and a bag for GH$3,000 from GH$2,070, effective immediately.
This represents an increase of 45% from the mid-season price adjustment announced in April 2024 and 129% higher than the price announced in September 2023.
“PPRC has announced an increase in the producer price of cocoa to GH$48,000 per tonne for the 2024/2025 cocoa season. A 129% upward adjustment from the price announced in Sept. 2023, setting the new price of a 64kg bag of cocoa at GH$3,000 effective today,” the post reads.
The Ghana Civil Society Cocoa Platform (GCCP) had called on the Ghana Cocoa Board to set the minimum farmgate price for the 2024/2025 cocoa season at no less than
GH$3,583 per 64kg bag of cocoa beans from the current GH¢2,070.
At a press conference in Accra on Monday, September 2, addressed by Mr. Teinor Francis, a farmer from Suhum, the group said based on current global market trends which have seen cocoa prices average over $6,104 per tonne in the 2023/2024 season, farmers should receive at least 60% of the Free on Board price in determining the farmgate price.
The Minority Caucus in Parliament had also demanded no less than GH$6,000 per bag.
Speaking on the floor of Parliament on Tuesday, September 3, Minority Leader and MP for Ajumako-Enyan-Esiam, Dr. Cassiel Ato Forson said: “Rt. Hon Speaker, the prevailing price of cocoa on the world market and the exchange rate means that…the cocoa farmer cannot be paid anything less than GHS6,000 per bag. The payment of GH$6,000 per bag of cocoa is critical because cocoa farmers deserve the benefit of their hard labour.”
