In response to ongoing cocoa price fluctuations on the global market, the Ghanaian government has raised the cocoa farmgate price to GH₵49,600 per tonne, effective November 8, marking the third increase in the past nine months. The recent 3.3% adjustment aims to offer cocoa farmers fairer compensation and strengthen their position within the competitive global cocoa market.
The Ghana Cocoa Board (COCOBOD) confirmed that this increase would boost the confidence of over 800,000 cocoa farmers and provide greater income stability. Local farmer associations lauded the price hike, though they also called for a consistent supply of agrochemicals to optimize cocoa yields. Ghana has seen a steady decline in cocoa output due to factors such as unfavorable weather, illegal mining, and smuggling, which have reduced production targets for the new season.
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62-Year-Old Businesswoman Remanded Over $13K Fraud
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