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Ghana’s cocoa regulator plans to extend the state-guaranteed value paid to its cocoa farmers for the 2024/25 crop season by practically 45%, Reuters reported Monday (Sep. 02)
If confirmed, it could be the second improve in a row.
Earlier this yr, Ghana adopted fellow main cocoa producer Côte d’Ivoire in elevating the farmgate value of the commodity by 58% to achieve 33,120 Ghana cedis (about 2,499 U.S. {dollars}) per ton.
The transfer is believed to assist enhance farmers’ incomes and deter bean smuggling overseas.
This comes because the Ghana Civil Society platform known as on nation’s cocoa regulator to boost the minimal farm-gate value for the 2024/2025 to achieve 3662 US {dollars} per ton.
Yearly in September, the federal government proclaims new far-gate costs for cocoa bag and ton for the brand new cocoa season, which is between September of the present yr and August of the next yr.
The worth of cocoa soared rose sharply this yr due to demand and troubles with the crop in West Africa as a result of plant illness and modifications in climate.
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