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Business News of Thursday, 17 September 2020


COCOBOD announces closure of 2020 light crop cocoa season

Ghana’s 2020 cocoa light crop season would end at the close of business today, Thursday, September 17, the Ghana Cocoa Board (COCOBOD) announced in a statement released in Accra.

The statement, signed by COCOBOD Chief Executive, Joseph Boahen Aidoo, said in order to assist the Licensed Buying Companies (LBCs) to obtain the final returns from upcountry stations, the Ghana Cocoa Board has decided that returns on the declared purchases will be accepted up to 4:00 p.m. on Thursday, September 24, 2020.

Cocoa farmers to earn 21% more for produce

Cocoa farmers will earn more for their produce in the next cocoa season than they currently receive for the same output of beans in the ongoing season.

It follows plans by the government, through the Ghana Cocoa Board (COCOBOD), to raise the cocoa producer price (CPI) paid to cocoa farmers by more than 21 per cent for the 2020/21 season.

The 21 per cent increment will translate into GH¢625 per 64-kilogramme bag of cocoa beans, compared to the GH¢515 being paid for the same quantity of beans in the ongoing season.

For a tonne of cocoa beans, the 21 per cent increment means that farmers will receive a minimum of GH¢10,000 for their produce.