Ghana Raises Cocoa Producer Price by 6% Amid Global Market Surge: Media
Ghana Raises Cocoa Producer Price by 6% Amid Global Market Surge: Media
The new producer price is expected to rise from $227 to $240 per 64 kg bag, the media reported.
↗ The increase comes as global cocoa futures have risen amid concerns over reduced West African harvests due to crop diseases and the effects of El Niño.
Accra is moving to assert more control over its cocoa sector, replacing fixed pricing with a system tied to international markets.
Ghana is targeting at least 70% of export value for farmers and plans to raise $1.4 billion through cocoa bills while setting up a new company to manage sales.
Global cocoa prices have continued to climb, with near-term futures rising by about 25% in August and surpassing $6,700 per tonne at the end of the month for the first time since October 2024.
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