President Akufo-Addo has announced an 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.
At the event, Nana Owusu Achiaw Brempong, a 70-year-old farmer from the Sekyere Central District in the Ashanti Region, was named the National Best Farmer.
With a farming journey spanning 50 years, Nana Owusu has built North American Farms, an enterprise employing 168 workers and cultivating a variety of crops, including cocoa and cashew. His dedication and commitment to the agricultural sector were celebrated with a grand prize of one million Ghana cedis.
In his acceptance speech, Nana Owusu called for increased national efforts to ensure food security, urging the government to invest further in the agricultural sector to benefit farmers and the economy.
His recognition highlights the crucial role of farmers in Ghana’s development and the importance of supporting the sector to maintain sustainable food production.
The National Farmers’ Day celebration took place simultaneously across the country, recognizing the efforts of farmers nationwide.
The event honored their significant contributions to Ghana’s economy and highlighted the government’s ongoing support through improved policies and initiatives aimed at advancing agriculture.