Akufo-Addo increases cocoa price from GHC3,000 to GHC3,100 per 64kg bag

President Nana Addo Dankwa Akufo-Addo has announced a slight increase in the producer price of cocoa for the 2024/2025 crop season, raising it from GH?3,000 to GH?3,100 per 64kg bag.

This marks a 0.03% rise from the previous rate set in September. The President explained that this increase is a response to current market conditions, and it aligns with his ongoing efforts to improve the livelihoods of cocoa farmers in Ghana.

Speaking at the National Farmers’ Day awards held on Friday, November 8, 2024, in Accra, President Akufo-Addo emphasized that the price adjustment is part of a broader strategy to periodically review cocoa prices in order to ensure farmers’ incomes are supported amidst the often-challenging conditions they face.

“I have directed the Minister for Agriculture to ensure regular price adjustments that reflect global market trends and the realities on the ground,” the President stated.

National Best Farmer Award Goes to Nana Owusu Achiaw Brempong

In recognition of exceptional contributions to agriculture, Nana Owusu Achiaw Brempong, a 70-year-old farmer from the Sekyere Central District in the Ashanti Region, was named the National Best Farmer for 2024.

Nana Owusu was awarded one million Ghana cedis, along with other prizes, in acknowledgment of his outstanding achievements in farming and his significant impact on the country’s agricultural sector.

During his acceptance speech, Nana Owusu stressed the importance of focusing on food security for Ghana’s future. He called for increased investment in local agriculture to reduce the country’s dependence on food imports and ensure self-sufficiency.

“We must prioritize local production if we are to safeguard our food security and grow our economy,” he said.

The Farmers’ Day celebration, which took place across the country, highlighted the indispensable role that farmers play in Ghana’s economy. The event serves as an annual recognition of the hard work and dedication of farmers, whose efforts are critical to the nation’s agricultural productivity, food security, and overall economic development.

This year’s celebration also comes at a time when agriculture remains a key sector for employment and revenue generation, contributing significantly to Ghana’s GDP. The government continues to emphasize the importance of supporting farmers through initiatives that boost productivity and ensure fair compensation.

With the increase in cocoa prices and continued recognition of farmers’ contributions, the government aims to strengthen the agricultural sector, improve farmers’ livelihoods, and sustain Ghana’s position as one of the world’s leading cocoa producers.

The post Akufo-Addo increases cocoa price from GHC3,000 to GHC3,100 per 64kg bag first appeared on 3News.

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