The Government of Ghana has increased the cocoa producer price by 8.42 percent, APA has learnt on Wednesday.
With this increase, a tonne of cocoa will now sell for GH¢8,240 ($1,498.18).
The report by Daily Graphic on Wednesday said that the Minister of State at the Ministry of Food and Agriculture, Dr. Nurah Gyeile, announced
during his address at a cross-section of cocoa farmers forum at Sunyani in the Bono Region, which has the theme, “Sustainable cocoa production for wealth and health”.
Dr. Gyeile said although the prices of cocoa had dipped in 2018, Ghana decided to maintain the producer price of the commodity, instead of following the world market prices to adjust prices downwards, to keep faith with cocoa farmers.
He assured the farmers that the government would continue to provide stabilisation fund to support cocoa cultivation in the country.
Ghana and Ivory Coast have recently formed an alliance to demand for an increase in the price of coco on the international market.
DAP/GIK/APA