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In a move that is expected to bring a significant boost to cocoa farmers in Ghana, the Producer Price Review Committee (PPRC) has announced a major increase in the producer price of cocoa.<\/p>\n
As of today, September 11, 2024, the new price of cocoa stands at GH\u00a248,000 per tonne, representing a whopping 129% upward adjustment from the price announced in September 2023.<\/p>\n
This means that a 64kg bag of cocoa will now sell for GH\u00a23,000, a significant increase from the previous price.<\/p>\n
The new price takes effect immediately, and it is expected to bring a major boost to cocoa farmers and address the raging smuggling of the product.<\/p>\n
The announcement was made by the PPRC, which is responsible for reviewing and setting the producer price of cocoa in Ghana.<\/p>\n
The committee takes into account various factors, including the international market price of cocoa, production costs, and the overall performance of the cocoa industry.<\/p>\n
The increase in the producer price of cocoa is seen as a major victory for cocoa farmers who have been advocating for better prices for their produce.<\/p>\n
In recent years, cocoa farmers have been struggling to make a living due to low prices, which have made it difficult for them to invest in their farms and improve their livelihoods.<\/p>\n
Ghana is the second-largest producer of cocoa in the world, and the crop is a major source of foreign exchange earnings for the country.<\/p>\n
However, the cocoa industry has been facing challenges in recent years, including low prices, pests, and diseases, which have affected production and quality.<\/p>\n
The government has been taking steps to address these challenges, including the introduction of new cocoa varieties, improved extension services, and support for cocoa farmers.<\/p>\n
The increase in the producer price of cocoa is seen as a major step in the right direction, as it will provide cocoa farmers with the incentive to produce more and invest in their farms.<\/p>\n
The new price is also expected to have a positive impact on the overall economy, as it will increase the income of cocoa farmers and their families, and also generate more foreign exchange earnings for the country.<\/p>\n
Cocoa farmers have welcomed the announcement, saying that it will make a major difference in their lives.<\/p>\n
BY Daniel Bampoe<\/strong><\/p>\n\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"
\u00a0 \u00a0 In a move that is expected to bring a significant boost to cocoa farmers in Ghana, the Producer Price Review Committee (PPRC) has announced a major increase in the producer price of cocoa. As of today, September 11, 2024, the new price of cocoa stands at GH\u00a248,000 per tonne, representing a whopping 129% […]<\/p>\n","protected":false},"author":1,"featured_media":210150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-216726","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\n
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