The government of Ghana has raised the producer price for cocoa beans by 21% for the 2022/2023 cocoa crop season.
Minister for Agriculture, Dr. Owusu Afriyie Akoto made the announcement and said the price has been increased from 10,560 cedis for the last two seasons, to12,800 cedis ($1,248.78) per tonne for the main crop of the 2022/23 season, effective from Oct. 7.
The Minister noted that despite the 21% increase, the price is lower than the 900 CFA francs ($1.36) per kilogramme set by neighbouring top cocoa producer Ivory Coast on Sept. 30, raising a risk that cocoa could be smuggled across the border to be sold at higher prices.
Cocoa Life
“We are pleased to announce that government has increased the producer price of cocoa by 21% from ¢10,560 per tonne to ¢12,800.00 per tonne. The producer price represents 89.99% of the net FOB value. This figure translates into ¢800 per bag of 64 kg. gross weight and takes effect from Friday, 7th October, 2022. The 21% rise in the producer price of cocoa is a testament to Government’s resolve to ensure farmers earn a decent income and make cocoa farming lucrative”, said the Minister.
Ghana is the world’s second-largest cocoa-producing country (Côte d’Ivoire is the largest). Cocoa Life has been active in Ghana since 2008, when it began as the Cadbury Cocoa Partnership. At the end of 2021, there were 81,159 farmers participating in Cocoa Life, across 818 communities.
Cocoa production occurs in the country’s forested areas: Ashanti, Brong-Ahafo, Central Region, Eastern Region, Western Region, and Volta, where rainfall is 1,000–1,500 millimeters per year. The crop year begins in October, when purchases of the main crop begin, with a smaller mid-crop cycle beginning in July.
