The Ghana Cocoa Board (COCOBOD) is set to announce the new cocoa price for the 2024/2025 season, bringing anticipation to thousands of cocoa farmers across the country. The new price, which will take effect immediately, is expected to be a significant increase from the previous season’s price, and is anticipated to boost the livelihoods of farmers and their communities.
According to COCOBOD, the new price is the result of a careful review of the global cocoa market and the country’s economic situation. The Board has also announced plans to increase support for farmers, including improved seedlings, fertilizers, and extension services.
Farmers are eagerly awaiting the announcement, saying it will help them to improve their yields and invest in their farms. The move is also expected to boost Ghana’s cocoa production, which has been facing challenges in recent years.
The announcement comes as COCOBOD begins its domestic financing of cocoa purchases and operations, a move that is expected to save the country millions of dollars.
