Cocoa price increased by 21%

The producer price of Cocoa has been increase by 21 percent, an official statement by government has said.

This means that a tonne of cocoa will now be sold at GHC6,720 from the current 5,520, while a 64 kilo bag of cocoa will trade at GHC420.

The statement also said farmers will be getting GHC5 as bonus for every 64 kilo bag of cocoa sold.

“The PPRC has reviewed upwards the producer price of Cocoa from 5,520 per tonne to 6,720 per tonne for the 2015/2016 Cocoa season.

“As compared to the previous season, this amount represents an increase in price of GHC1,200 per tonne or 21.74 percent. This figure translates into GH4,20 per bag of 64kg gross weight, which represents about 73% of the net FOB,” portions of the statement noted.

It added “COCOBOD and government have decided to pay bonus to farmers at the time of sale of their produce. Accordingly, an additional amount of GHC5 per bag of 64KG gross weight of Cocoa, sold by the farmer, the farmer shall be paid GHC4,20 per a bag plus GHC5 as bonus”.