Ghana pays GH¢29.4m bonuses to cocoa farmers for 2010/2011 crop season

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The Ghana Cocoa Board (COCOBOD) has released almost GH¢30 million (GH¢29,484,605.10) to be paid as bonuses to cocoa farmers for the 2010-2011 crop season.

COCOBOD released the funds to Licensed Buying Companies (LBCs) and this is the second tranche for the 2010/2011 crop season, according to a COCOBOD statement released October 4, 2012.

“The bonus to be paid is GH¢32.00 per tonne (16 bags) or GH¢2.00 per bag of 64kg of cocoa,” the statement said.

The state-run regulator said the release of funds was in “fulfillment of government’s pledge to pay bonuses twice a year to cocoa farmers.”

Cocoa farmers are expected to receive their bonuses from today onwards.

Ghana earned $1.8 billion from cocoa beans export from January to July 2012, according to the Bank of Ghana.

By Ekow Quandzie

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