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Cocoa producer price in Ghana to go up
Accra, Jan 8, Ghanadot - The Minister of Finance. Kwabena Duffuor, at a press conference held on Thursday, Jan
7, said producer price for cocoa will be raised for farmers
in the country.
The price per ton will jump
from the current price GHC 2208 to 2400, beginning Friday
this week.
Historically, Ghana was the
leading cocoa producing country until the early sixties when
smuggling to neighboring countries like Ivory Coast pushed
her to the second position behind the latter.
The effort behind the raise was an expression of concern
about the rate of smuggling in the country to neighboring
countries where the seller price is more attractive than
what obtains in Ghana.
The increase in raise, according
to Minister Duffuor is "72.16
percent of the net (export) price." Duffour said to the
media in Accra yesterday.
By every indication, actors in the industry are excited
about the raise in the cocoa purchasing price.
Officials at Cocobod, the industry regulator, said the price
boom will prevent farmers from selling their products
outside Ghana.
On the world market, Cocoa is
trading at $3,300 per ton, about GHC4686 in Ghana's
currency, which reflects an increase of more than $500.00 (GHC
710) of the price from January of last year.
Ghanadot |
