The Minister of Finance and Economic Planning, Hon. Kwabena Duffour, last week Thursday hinted that the producer price of cocoa for the 20092010 has been increased.
Finance Minister, Kwabena Duffour
According to the sector minister, the government has increased the producer price of cocoa from GH¢ 2,208 per tonne to GH¢24, 00.00 per tonne which is 72.16% of the net FOB price.
He added that the new cocoa producer price translates to GH¢150.00 per bag of 64 kilogram gross weight compared to the GH¢ 138.00 per bag which was announced in October 2009.
Hon. Kwabena Duffour stressed that the buyers’ margin of cocoa has also increased from GH¢ 250.00 per tonne to GH¢280.00 per tonne.
The finance minister went on to indicate that the rate of hauliers has also increased from GH¢ 105.00 per tonne to 113.00 per tonne.
He said the rate increment of hauliers takes effect from Friday, the 8th of January, 2010.
Mr Kwabena Duffour emphasized that in ensuring that the Licensed Buying Companies (LBCs) continue to play their very intermediary role as the primary interface between government and cocoa farmers, the interest rate for the use of COCOBOD seed fund has been reduced from 20.5% to 18% with effect from 1st January 2010.
He therefore advised the board of governors of COCOBOD to prepare modalities for the implementation of the social security for cocoa farmers which was announced in the government’s budget statement.
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