13 October 2016, ACCRA (TSR-GNA) – The Ghana Cocoa Board (COCOBOD) has reviewed upwards, the producer price of cocoa from GHC 6,720.00 (1691,63 USD) per tonne to GHC 7,520 (1893,02 USD) 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 GHC 470 (118,31 USD) per bag of 64 kg 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 GHC 5.00 (1,26 USD) per bag.

Dr Opuni explained that every farmer had to be paid GHC 470.00 (118,31 USD) per bag with GHC 5.00 (1,26 USD) as bonus summing up to GHC 475.00 (119,57 USD) 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 GHC 475.00 (119,57 USD) per bag of 64 kg gross weight of their produce.

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Lady MJ Santos is the Founder/CEO of The Santos Republic Systems. Her professional background is political and media strategy, asset and credit enhancement, international trade and development and public speaking. For two consecutive years, she was awarded by Silicon Valley's TRIPBASE as their favourite "writer to be revered and respected" of all the world politics blogs from across the internet for "displaying knowledge and temerity in her approach matched only by her success in the political and managerial circles".

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