For the 2023–2024 cocoa season, President Nana Akufo Addo has announced a 63.5 percent increase in Ghana’s cocoa price.
The cost of a bag of cocoa has increased from GHC 800.00 to GHC 1, 308.00.
The cocoa season will now start in September rather than October, according to Nana Addo.
On Saturday, September 9, 2023, Tepa in the Ahafo Ano North district of the Ashanti region announced the new price.
President Nana Addo told cocoa growers that the new prices are designed to enhance their standard of living.
According to the president, the new price has increased the cost per ton from GHC12, 800.00 to GHC20, 943.00.
“The new price is the highest in the sub region in the last 15 years,” President Akufo-Addo boasted.
He stated that the decision to raise the price gate was made in order to support the nation’s vital cocoa industry.
By implementing this new price, it is anticipated that the amount of cocoa that is smuggled out of the nation to sell for more money will decrease.