As of 2021, the price of cocoa in Ghana was projected at 2.4 U.S. dollars per kilogram. This price was forecast to reach 2.5 U.S. dollars per kilogram between 2022 and 2024. However, in 2025, it is expected that 2.6 U.S. dollars would be paid for every kilogram of cocoa purchased from Ghana. The country is a leading producer of cocoa worldwide.
Cocoa Price In Ghana
The price in Ghana Cedi is GHS 16.68 per kg. Basic Info. Cocoa Price is at a current level of 2.239, down from 2.322 last month and down from 2.327 one year ago. This is a change of -3.58% from last month and -3.78% from one year ago.
The government has announced GH¢660 as the farm-gate price for a bag of 64kg of cocoa for the 2021/2022 crop season.
The announcement was made at a news conference in Accra by Hon. Owusu Afriyie Akoto, Minister for Food and Agriculture and Chairman of the Producer Price Review Committee.
Hon. Owusu Afriyie Akoto said in spite of the fall in the world market price of cocoa, among other factors, such as the effects of the Covid-19 pandemic on the global economy, Government has maintained the producer price at Gh¢10,560.00 per tonne, representing 87.15 % of the FOB value, as a demonstration of its commitment towards improving the livelihoods of cocoa farmers.
According to him, Government is committed to sustaining the interest of cocoa farmers in the country to enable them produce more cocoa, enjoy remunerative incomes and improved well-being.
“The producer price has been maintained at a time other producing countries are contemplating reducing their farm-gate prices following a drop in the terminal cocoa market as a result of the challenges posed by the pandemic,” he added.
Through the Cote d’Ivoire-Ghana Cocoa Initiative which saw the implementation of the Living Income Differential (LID) of US$400 per tonne of cocoa in the 2020/2021 crop year, cocoa farmers are better-off today than their counterparts in other cocoa-producing countries.
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