The government of Ghana has set the cocoa producer price for a ton at GH¢8,249.
This represents an 8 percent increase for the 2019/2020 crop season. The latest increment impies that a 64-kilo bag of cocoa would now be sold at GH¢515. This was announced by the Minister of State in-charge of Food and Agriculture, Dr Nura Jara at the 2019 Cocoa Day celebration in Brong Ahafo.
The 2019 Cocoa Day, was themed: “Sustainable Cocoa Production for Health and Wealth”. Cocoa Day provides a platform to celebrate the efforts of cocoa farmers and role of stakeholders towards a sustainable cocoa sector
Cocoa price in Ghana remained stable for the past three seasons. Recently, in April 2019, COCOBOD maintained the producer price of cocoa despite suggestions by the IMF to review it downwards.
The IMF wanted COCOBOD to review the producer price of cocoa downwards to reflect changes in international cocoa prices.
Meanwhile, the price was last increased by 11.76 per cent in October 2016 to cover the 2016/2017 season.
Since then, it has remained unchanged at GH¢7,600 per tonne, translating into GH¢475 per bag of 64 kilogrammes (kg) gross weight.
In 2018/2019, Ghana is estimated to have produced about 900,000 tons of cocoa beans, a decrease from approximately 969 thousand tons in 2016/2017.
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.