Ghana's cocoa sector sees a record price increase, but farmers are hoarding beans amid uncertainty.

Ghana Cocoa Board CEO Joseph Boahen Aidoo commended the government's support for the cocoa sector, noting a record producer price of GH¢ 48,000 per tonne for the 2024/2025 season, a 45% increase aimed at improving farmer welfare. However, many farmers are hoarding beans, anticipating further price hikes due to comments from Vice President Mahamudu Bawumia. This has led to slower bean purchases amidst challenges from smuggling and a previous poor harvest.

4 months ago
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