Akufo-Addo announces increase in cocoa producer price by 0.03%

President Nana Addo Dankwa Akufo-Addo has announced an increase in the producer price of cocoa from GH₵3,000 to GH₵3,100 per 64kg bag, a 0.03% rise from the rate set in September for the 2024/2025 crop season.

The president explained that the increase is intended to align cocoa prices with current market conditions.

Speaking at the National Farmers’ Day awards in Accra on Friday, November 8, President Akufo-Addo stated, “On the advice of the producer price review committee, I am pleased to announce 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.”

He noted that the adjustment follows his directive to the Minister to ensure periodic reviews to support farmers’ incomes amid challenging conditions.

Meanwhile, Nana Owusu Achiaw Brempong, a 70-year-old from the Sekyere Central district of the Ashanti Region has been adjudged the National best farmer.

Nana Owusu, whose farming journey began 50 years ago, owns North American farms with 168 workers cultivating diverse crops, including cocoa and cashew.

He received one million Ghana cedis as part of his reward.

In his acceptance speech during the Farmers Day celebration on November 8, the National Best Farmer called for increased efforts to ensure food security.

The Farmers Day Celebration took place concurrently across the country, recognizing farmers for their dedication and contribution to the economy.

President Nana Addo Dankwa Akufo-Addo and other dignitaries were present at the event