Investment Times

Ghana, the world's second-largest cocoa producer, is contemplating a significant increase in the farmgate price paid to cocoa farmers, potentially up to twice the current rate. This unprecedented move aims to curb the smuggling of cocoa beans to neighbouring countries, where farmers can fetch higher prices. The Ghana Cocoa Board is in discussions with the government to approve an increase of 50% to 100% in farmgate prices. This follows a previous 63.5% increase to 20,928 cedis ($1,567) a ton at the start of the main crop season in September. The country is considering raising cocoa farmgate prices by 50-100% to...