Ghana has reviewed upwards the producer price for cocoa, government announced an increment in the price per bag from 425 to 475 Ghana cedis.
The increment takes effect from Saturday October 1, 2016.
Deputy Finance Minister, Cassiel Ato Forson announced the 2016/17 cocoa price at the 2016 Cocoa Day celebrations at Tepa in the Ahafo Ano North District of the Ashanti Region.
He said the prices of a tonne of cocoa has been increased from ¢6,800 per tonne to ¢7,600 per tonne for the 2016-2017 cocoa season.
“Last year the average FOB per tonne of cocoa sold was $2,900 and this year the average FOB to be sold and in some cases have been sold forward is $2,950” he said.
The event was under the theme “Transforming the Cocoa Sector for Economic Growth -The Role of the Youth”.
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