The government has reduced the farmgate price of cocoa from GHC58,000 to GHC41,392 per tonne. According to Dr. Cassiel Ato Forson, Minister of Finance, the move is aimed at adjusting to current market trends.
The decision is expected to have significant implications for Ghana’s cocoa farmers and the broader economy. The price reduction has been announced amidst ongoing challenges in the global cocoa market.
The Ministry of Finance is working closely with relevant stakeholders to ensure a smooth implementation of the new price. The move is seen as part of efforts to support farmers and ensure the sustainability of the cocoa industry.
“This decision is in response to current market conditions,” said Dr. Forson. The government aims to ensure the cocoa sector remains viable and competitive in the global market.
The cocoa industry is a vital part of Ghana’s economy, providing livelihoods for millions of people. The government’s decision is expected to have a ripple effect on the economy.
The new price is expected to take effect immediately, and farmers are expected to benefit from the revised pricing structure.
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Author: Korkor Anumu
