Cocoa Farmers in Ghana to Receive 70% of World Market Price

Ghana's cocoa farmers are poised to receive a significant boost in income, thanks to the government's decision to offer them 70% of the world market price. This move exceeds the initial 60% proposal and is expected to motivate farmers to increase cocoa production.

According to the Ministry of Agriculture Hon Eric Opoku, this decision is a deliberate effort to enhance the livelihoods of cocoa farmers, who have been facing numerous challenges, including low incomes, high input costs, and smuggling. By increasing the farmgate price, the government aims to encourage farmers to produce more cocoa, ultimately benefiting the entire cocoa value chain.

This development comes on the heels of Ghana's efforts to revamp its cocoa sector, which has been grappling with declining production, disease, and drought. The government has implemented various initiatives, including the Cocoa Rehabilitation Programme, to revitalize the sector and improve the welfare of cocoa farmers.

The decision to offer cocoa farmers 70% of the world market price is a welcome move, considering that Ghana's cocoa farmers have been advocating for better prices and improved working conditions. This increase is expected to translate into higher earnings for farmers, enabling them to invest in their farms, improve their livelihoods, and contribute to the country's economic growth.

As Ghana celebrates this milestone, it's clear that the government is committed to supporting its cocoa farmers and ensuring the long-term sustainability of the sector. With this decision, Ghana's cocoa industry is poised for growth, and farmers can look forward to a brighter future.