Some cocoa farmers in the Ashanti Region have expressed disappointment in government over what they describe as a \u2018paltry\u2019 increase in producer price of\u00a0cocoa.<\/p>\n
The Deputy Minister of Finance, Ato Forson Cassiel, announced an 11.76 percentage increase in the\u00a0producer price for the 2016\/2017 farming season, at the national celebration of the International Cocoa Day, at Tepa, in the Ahafo Ano North District of the Ashanti Region on Saturday.<\/p>\n
The increase, which takes immediate effect, means farmers will receive about \u00a2475 for every 64kg bag of cocoa beans.<\/p>\n
But some cocoa farmers in Tepa, who were present at the event, told Citi News<\/strong>, the new prices did not meet their expectation.<\/p>\n According to them, they expected an increase from the current \u00a2425.00 per 64kg bag to an amount of over \u00a2500.00.<\/p>\n They said the new price still meant their cost will outweigh their income.<\/p>\n The Deputy Minister however assured the farmers that government will continue the Stabilization Fund with annual contributions from the FoB price, as a risk mitigation mechanism against declines in international cocoa prices.<\/p>\n He said government will “continue with the fund so as to be able to cushion farmers, should the world market price begin to decline as we move into the future.”<\/p>\n “Last year, the average FoB per tonne of cocoa sold was US$2,900, and this year the average FoB is $2,950 per tonne. The producer price of cocoa has been reviewed from \u00a26,800 per tonne to \u00a27,600 per tonne for 2016\/2017, representing 11.76%.\u00a0A 64kg cocoa bag therefore shall be sold at \u00a2475, up from the \u00a2425 ker bag representing 77.45% of the net FoB.”<\/p>\n The theme for the celebration of the 2016 World Cocoa day in |Ghana was, “Transforming the cocoa sector for economic growth- The role of the youth”.<\/p>\n –<\/p>\n By:\u00a0Lauretta\u00a0Timah\/citifmonline.com\/Ghana<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Some cocoa farmers in the Ashanti Region have expressed disappointment in government over what they describe as a \u2018paltry\u2019 increase in producer price of\u00a0cocoa. The Deputy Minister of Finance, Ato Forson Cassiel, announced an 11.76 percentage increase in the\u00a0producer price for the 2016\/2017 farming season, at the national celebration of the International Cocoa Day, at […]<\/p>\n","protected":false},"author":5,"featured_media":222775,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[32,5,171,11],"tags":[228,12212],"class_list":["post-253996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-general","category-local-economy","category-top-stories","tag-cocoa-farmers","tag-producer-price"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/253996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=253996"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/253996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/222775"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=253996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=253996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=253996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}