INTERNATIONAL - Ghana will raise cocoa farmgate prices by 5.2 percent for the 2019/20 season, the first increase in four years, following strong sales of export contracts to chocolate makers and cocoa houses, industry sources told Reuters.
The farmgate price will rise to 8,000 Ghanaian cedi($1,523.81) per tonne in the season starting in October, from 7,600 cedi per tonne last season, the sources at industry body Cocobod and its marketing arm Cocoa Marketing Company (CMC) said on Tuesday.
The price has been unchanged for the past three seasons in Ghana, the world’s second-biggest cocoa producer.
“The price will be around 8,000 GHS per tonne next season. That’ll be 500 GHS per bag and it’s something that cocoa farmers deserve,” a CMC source said.
Ivory Coast, the biggest producer, will also raise its farmgate price, sources said last month.