Ghana’s Finance Minister Dr Kwabena Duffuor today announced the new cocoa producer price for the 2009-10 season. Farmers will receive GH¢2,208 ($1,511) per ton or GH¢138 ($94.50) per bag of cocoa. That’s a 35 percent increase over last year’s producer prices and about 71 percent of the FOB price of cocoa. With the current cocoa prices hovering around $3,300 per ton, I’m not sure how the 71 percent number was calculated. But the report indicated that the new price is the highest price ever paid to farmers.
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