Ghana has increased the producer price of cocoa by 8.6 per cent, jumping up from 2,208 Ghana cedis to 2,400 Ghana cedis per tonne (US$1=1.42 Ghana cedis).
Dr. Kwabena Duffuor, Minister of Finance and Economic Planning, said the increase was on the recommendation of the Producer Price Review Committee which met in Accra.
The meeting was attended by stakeholders in the cocoa industry, including farmers and representatives of Licensed Buying Companies. Cocoa is Ghanas's chief foreign exchange earner and Ghana is the world's sec ond biggest cocoa producer after western neighbour Cote d'Ivoire.
Dr. Duffuor said the increase represented 72.16 per cent of Free On Board (FOB) price of the commodity, which translated to GHc150 per bag of 64 kilogrammes gross weight as against GHc138 per bag announced in October last year.
He also announced that the Buyers' Margin had been increased from GHc250 per tonne to GHc280 per tonne.
Dr. Duffuor said the rate for haulers, which was GHc105 per tonne at the beginning of the season, had also been raised to GHc113 per tonne.
Afriquejet
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