Government Increases Cocoa Price to Incentivize Farmer Productivity – Agric Minister
Bryan Acheampong,Minister of Food and Agriculture
The Minister of Food and Agriculture, Bryan Acheampong, says the significant increase in the price of cocoa beans, aimed at encouraging farmers to produce more.
Hon Acheampong explained that, government’s unprecedented cocoa price hike, a whopping 100% increase, is a strategic move to revitalize the sector, encourage farmers to invest in best practices, and boost Ghana’s cocoa production.
The new price, which takes effect immediately, sees a 64kg bag of cocoa beans jump from GHs 1308 to GHs 3000, representing over 100 percent increment.
According to Minister Acheampong, the government has implemented various measures to improve the cocoa sector, and the price increase is just one of them.
Speaking to OTEC News on Thursday, September 12, 2024, he stated that the government may consider further price increases if international market prices continue to rise.
The Minister urged farmers to take advantage of the new prices and adopt best practices to produce high-quality beans.
He expressed confidence that the increased prices will motivate farmers to work harder and improve their yields, ultimately benefiting the cocoa industry as a whole.
This development is seen as a major boost to cocoa farmers, who have been facing challenges in recent times.
Source: Ghana/otecfmghana.com/Jacob Agyenim Boateng
