COCOBOD increases cocoa farmgate price again; bag of 64kg now GHS3,100

The Ghana Cocoa Board (COCOBOD) has announced another increase in the producer price of cocoa.

According to a press release issued on November 9, the price of a 64kg bag of cocoa has been raised from GHS3,000 to GHS3,100, effective immediately.

This adjustment sees the per-tonne rate moving from GHS48,000 to GHS49,600.

“This new increase…aims to support Ghanaian cocoa farmers by offering an improved income,” COCOBOD’s Public Affairs Department said in the statement.

The price adjustment is expected to boost the confidence of cocoa farmers, COCOBOD noted.

“This move is expected to boost farmer confidence, enhance income stability, and strengthen the partnership between COCOBOD and the farming community.”

“COCOBOD will continue to institute measures and policies that contribute to the growth and sustenance of the cocoa industry,” the statement affirmed.