ACCRA, April 5 (Reuters) - Ghana has raised the fixed farmgate price paid to cocoa farmers by 58.26% to 33,120 Ghanaian cedis ($2,490.23) per tonne for the rest of the 2023/24 season, marketing board Cocobod said on Friday.
Cocobod said in a statement that the increase in the producer price was necessary to enhance the income of farmers and in response to rising cocoa prices on the international market.
Cocoa prices have more than tripled over the last year as disease and adverse weather in Ghana and neighbouring Ivory Coast, the world's top two producers, pushed the global market to a third successive deficit.
Earlier this week
Ivory Coast
increased its farmgate price by 50%. ($1 = 13.3000 Ghanaian cedis) (Reporting by Christian Arkolie; Writing by Anait Miridzhanian; Editing by Alexander Winning)
