President Nana Addo Dankwa Akufo-Addo has reaffirmed his commitment to the agriculture sector by announcing a notable increment of the cocoa farm gate price, raising from GH₵48,000 to GH₵49,600 per metric ton.
This adjustment, which represents a slight rise of previous rate set in September for the 2024/2025 crop season, aims to align cocoa prices with prevailing market conditions and provide crucial support to Ghanaian cocoa farmers.
This increase offers the cocoa farmers the better return on their hard work in light of the various economic challenges they face.The announcement was made during the National Farmers’ Day awards ceremony held in Accra on Friday, November 8.
President Akufo-Addo, while addressing the farmers, emphasized that the increase in cocoa prices was based on recommendations made by the Producer Price Review Committee.
He expressed his confidence that this new pricing structure would help stabilize farmers’ incomes, thereby alleviating some of the economic pressures currently impacting the agricultural sector.
“I am pleased to announce, on the advice of the producer price review committee, an increase in the producer price of cocoa from GH₵48,000 to GH₵49,600 per tonne, raising the price from GH₵3,000 to GH₵3,100 per bag,” President Akufo-Addo stated.
He reiterated his administration’s commitment to enhancing the welfare of farmers and ensuring that their efforts in cocoa production are appropriately rewarded.
The President highlighted that the directive to periodically review prices is a vital step towards improving income security for cocoa farmers, reflecting the government’s ongoing efforts to support the agricultural industry.
By prioritizing agriculture and supporting cocoa farmers, President Akufo-Addo aims to strengthen the sector, ensuring that it remains a cornerstone of the country’s economy.
The initiatives announced during the National Farmers’ Day celebration are crucial steps toward building a resilient agricultural framework that can adapt to challenges and thrive in the future.
