Government has announced a small increase in the cocoa producer price, raising it from GHC3,000 to GHC3,100 per 64kg bag for the 2024/2025 crop season. This change represents a 0.03% increase to keep prices in line with market trends. This price increment is part of government’s efforts to boost farmers’ incomes amid challenging conditions.
President Akufo-Addo made this announcement at the National Farmers’ Day awards in Accra on Friday (8 November). “On the advice of the producer price review committee, I am pleased to announce an increase in the producer price of cocoa from GHC48,000 to GHC49,600 per tonne, raising the price from GHC3,000 to GHC3,100 per bag”, the president said.
Addressing the chiefs and people of Jacobu to mark this year’s Farmers’ Day, the vice-president and presidential candidate of the New Patriotic Party (NPP) Dr Mahamudu Bawumia highlighted the critical role cocoa farmers play in Ghana’s economy and announced a new initiative to provide free tertiary education for children of cocoa farmers.
He explained that the policy aims to empower families by creating educational opportunities, which can lead to economic mobility and stability. The vice-president underscored the government’s commitment to easing the financial burden on these families through education support.
“Previously, COCOBOD provided scholarships to help cover secondary school costs for the wards of cocoa farmers. However, with the Free SHS policy now covering secondary education, the government has decided to reallocate these funds toward financing tertiary education instead”, Dr Bawumia said.
“COCOBOD is set to roll out this new scholarship scheme for cocoa farmers’ children in tertiary institutions starting next year”, he added.
The initiative, will cover tuition and associated costs for eligible students, allowing children of cocoa farmers to pursue their dreams without financial constraints.
The Farmers’ Day event celebrated farmers nationwide for their hard work and contribution to Ghana’s economy.