Commodities
Ghana Follows Ivory Coast to Raise Cocoa Farmgate Price
- Country increased farmers’ pay by 58% to $2,481 per ton
- Higher rates may help ease global cocoa beans supply shortage
A women roasts cocoa beans in Accra, Ghana.
Photographer: Cristina Aldehuela/AFP/Getty ImagesThis article is for subscribers only.
Ghana followed Ivory Coast to raise the price it pays farmers for their produce after cocoa futures soared.
The world’s second-biggest producer of the chocolate ingredient increased the farmgate price for cocoa beans 58% to 33,120 cedis ($2,481) per ton for the rest of the 2023-24 season, Ghana Cocoa Board said in a statement. That translates into 2,070 cedis per bag of 64 kilograms, it said.