President Nana Addo Dankwa Akufo-Addo has unveiled an increase in the cocoa producer price and an expansion of the Cocoa Scholarship Scheme.
These moves underscore the government's commitment to boosting farmers' livelihoods and enhancing educational opportunities for the children of cocoa farmers.He made these two major announcements at the 40th National Farmers' Day celebration, held on Friday, 8th November 2024.The first announcement was a rise in the producer price of cocoa.
Based on the recommendations of the Producer Price Review Committee, the price per tonne has been adjusted from GH¢48,000 to GH¢49,600, translating to an increase from GH¢3,000 to GH¢3,100 per bag.
This adjustment, according to President Akufo-Addo, is aimed at reflecting the government's dedication to ensuring that farmers benefit from evolving market conditions. "Our farmers are the backbone of our economy, and they deserve a fair reward for their hard work," President Akufo-Addo remarked. "This price increase represents my commitment to ensuring that, as market conditions evolve, our farmers see their incomes periodically reviewed and strengthened."Ghana, as one of the world's largest cocoa producers, relies heavily on cocoa exports for national revenue.