Govt Maintains Producer Price of Cocoa

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Government of Ghana has announced at a press conference on Friday that it has maintained the producer price of Cocoa at GHC 3, 392 per tonne for the 2013/14 cocoa season.

wpid-cocoa.jpgAs such, a bag of cocoa will continue to be valued at GHC212 per bag of 64kg and will take effect from Friday and this price is about 79% of the net Free on board price.

Confirming this news, Deputy Finance Minister, Cassiel Ato Forson made it known that government has sacrificed about 62% of its share of export tax of the free on board price to make it possible to maintain the price.

?Our farmers are very vulnerable and there is the need for us to support the cocoa farmers. Government is very much concerned that the world price of cocoa is coming down. But again we should also understand the importance of our cocoa farmers and the sort of work they put in. and that is why we are making sacrifices.

I very much agree with you that we are facing some challenges. But we cannot sacrifice our cocoa farmers. We cannot do that. And we really want to work with them and let them understand that we are standing by them and they will also stand by us when the time comes.?

Meanwhile, farm gate price of neighboring competitor Ivory Coast has increased its price from a cedi equivalent of GHS 3,009 to GHS 3,224 per tonne, which is still lower than Ghana?s price.OMg!Ghana

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