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Ghana Raises Cocoa Pay 21%, Falling Short of Farmers’ Demand

  • Farmers in No. 2 producer hit by inflation and input headaches
  • Ivory Coast last week increased farmgate price by 9%
Farmers spread cocoa beans during the sun-drying process in Asikasu, Ghana.

Farmers spread cocoa beans during the sun-drying process in Asikasu, Ghana.

Photographer: Cristina Aldehuela/AFP/Getty Images

Ghana raised cocoa farmers’ pay by 21%, below the increase growers in the second-biggest producer had demanded to counter soaring inflation and a weaker currency.

Farmers will receive 12,800 cedis ($1,219) a ton, or 800 cedis per bag of 64 kilos, for the season that begins Oct. 7, Agriculture Minister Owusu Afriyie Akoto said in a speech in Accra. That’s up from 10,560 cedis a ton for last season. The announcement was delayed from last week due to ongoing negotiations.