President Nana Akufo-Addo has announced an increase in the cocoa producer price from GH₵3,000 to GH₵3,100 per 64kg bag, representing a modest rise of 0.03% from the previous rate set in September for the 2024/2025 crop season.
The new rate, equivalent to GH₵49,600 per tonne, aims to align cocoa prices with market trends and provide extra support to Ghanaian cocoa farmers. Speaking at the National Farmers’ Day awards ceremony in Accra on Friday, November 8, President Akufo-Addo explained that the adjustment followed recommendations from the Producer Price Review Committee.
He expressed optimism that the increase would help stabilize farmers’ incomes amid current economic challenges. “I am pleased to announce, based on the committee’s advice, an increase in the cocoa producer price from GH₵48,000 to GH₵49,600 per tonne, raising the price from GH₵3,000 to GH₵3,100 per bag,” Akufo-Addo stated, reaffirming his commitment to farmer welfare.
The President emphasized that periodic price reviews are essential for enhancing income security for cocoa farmers.
At the event, 70-year-old Nana Owusu Achiaw Brempong from Sekyere Central in the Ashanti Region was named the National Best Farmer. With over 50 years of farming experience, Nana Owusu has built North American Farms, which employs 168 workers and grows diverse crops, including cocoa and cashew. He was awarded a grand prize of one million Ghana cedis for his contributions to agriculture.
In his acceptance speech, Nana Owusu called for greater national focus on food security, urging the government to further invest in agriculture for the benefit of farmers and the economy.
The National Farmers’ Day celebrations were held across the country, recognizing the vital role of farmers in Ghana’s development and celebrating their contributions to the economy. The event underscored the government’s continued support through policies and initiatives aimed at advancing the agricultural sector.