President Akufo-Addo will today October 1, 2019, announce a new Cocoa Price for Ghanaian cocoa farmers for the 2019/2020 cocoa season.
The new Cocoa Price announcement, will made at a grand durbar at Sunyani in the Brong Ahafo Region as cocoa farmers and industry players will gather to mark 2019 Ghana Cocoa Day.
The 2019 Cocoa Day, is on the theme: “Sustainable Cocoa Production for Health and Wealth”. The 2019 Ghana Cocoa Day celebration will serve as a platform to celebrate the efforts of cocoa farmers and role of stakeholders towards a sustainable cocoa sector.
Even before the President of Ghana announces the new Cocoa Price for 2019/2020 cocoa season, it is reported that, cocoa farmgate price is GHC8,000 ($1,484) per tonne for the 2019/2020.
Cocoa price in Ghana has been stable for the past three seasons and as such the new farmgate price represents 5.2% increment. According to reports.
Farmgate price is the price of the product available at the farm, excluding any separately billed transport or delivery charge.
A source at Ghana Cocoa Board has revealed that the farmgate price rises from GHS7,600 last season to GHS8,000 ($1,484.81) per tonne in the season starting in October. This translates to GHS500 per bag for the farmers.
Also, The Quality Control Company (QCC) under COCOBOD has received international certification from the United Nations Industrial Development Organization (UNIDO) with support from the Swiss government to determine the quality of Cocoa beans exported from West Africa.