The Minister of Finance, Dr. Cassiel Ato Forson has announced a GH¢400 increase in the price of a bag of cocoa at an emergency meeting in Accra.
The Producer Price Committee of Cocoa had earlier engaged the Finance Minister to reach a consensus taking into account the volatility in the economy.
According to Dr. Forson, the new price is now competitive compared to that of neighboring Ivory Coast. He explained that the factors influencing the decision were based on recent changes in the economy.
Previously, the cocoa price was GH¢3,228. With the new price of GH¢3,628, farmers will receive an additional GH¢400, he emphasized
In a subsequent post on Facebook the Finance Minister disclosed the increment is equivalent to a 12.27% rise over the price announced in August.
