The Ghana Cocoa Board (COCOBOD) has reviewed upwards, the producer price of cocoa from GHâ‚µ6,720.00 per tonne to GHâ‚µ7,520.00 per tonne for the 2016/2017 season.
A statement issued in Accra and copied to the Ghana News Agency said the Board has hence announced new cocoa prices for the cocoa season pegging it at GHâ‚µ470.00 per bag of 64kg gross weight.
The statement signed by Dr Stephen Kwabena Opuni, the Chief Executive Officer of COCOBOD said, the new rate for the cocoa price took effect from October 1.
Dr Opuni said: 'COCOBOD and Government have decided to pay bonus to farmers at the time of sale of their produce' which will trigger the payment of additional GHâ‚µ5.00 per bag.
Dr Opuni explained that every farmer had to be paid GHâ‚µ470.00 per bag with GHâ‚µ5.00 as bonus summing up to GHâ‚µ475.00 per bag and cautioned buying companies to ensure total compliance with new producer prices of the crop.
'Licenced Buying Companies are to take note of this and pay our cherished farmers accordingly', he said adding 'all Licenced buying Companies must comply'.
Dr Opuni advised all cocoa farmers to insist on the payment to ensure they are paid GHâ‚µ475.00 per bag of 64kg gross weight of their produce.