Cocoa farmers in the country must be the happiest group of people in the country today for two main reasons.
Last week, the governments made two major announcements that must gladden the hearts of many of the farmers whose toils have been the mainstay of the country's economy.
The announcement made by the Board Chairman of COCOBOD, Mr Peter Mac Manu, said the trustees and implementers of the scheme would be moving from district to district to register cocoa farmers onto the scheme to enable them to enjoy the full benefit of their pensions. He pointed out further that it had been three years since the implementation of the living income inferential, a pricing mechanism spearheaded by Ghana and Ivory Coast to secure a $400 premium on every tonne of cocoa sold to be paid directly to the cocoa farmers.
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How Ghanaian Cocoa Farmers Reap Sweet Fruits of Their LabourThe Ghanaian government made two major announcements that would greatly change the livelihoods of cocoa farmers in the country, Ghanaian Times reports. The first announcement is the rolling out of the much-awaited Cocoa Farmers Pension Scheme in October 2022. Trustees of the scheme will be moving from district to district, to register cocoa farmers onto the scheme, to enable them to enjoy the full benefit of their pensions. The government has also announced an increase in the cocoa producer price to 21% for the 2022/2023 cocoa season. With this, a tonne of the commodity would now be sold at U.S.$1,204 (GH¢12,800) from U.S.$994,00 (GH¢10,560) per tonne. This translates into U.S.$75 (GH¢800) per bag from the U.S.$62 (GH¢660) for the just ended cocoa farming season and takes effect from October 7, 2022. Cocoa is the chief agricultural export of Ghana and is its main cash crop. Ghana is the second largest cocoa exporter in the world, after Cote d'Ivoire.
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How Ghanaian Cocoa Farmers Reap Sweet Fruits of Their LabourThe Ghanaian government made two major announcements that would greatly change the livelihoods of cocoa farmers in the country, Ghanaian Times reports. The first announcement is the rolling out of the much-awaited Cocoa Farmers Pension Scheme in October 2022. Trustees of the scheme will be moving from district to district, to register cocoa farmers onto the scheme, to enable them to enjoy the full benefit of their pensions. The government has also announced an increase in the cocoa producer price to 21% for the 2022/2023 cocoa season. With this, a tonne of the commodity would now be sold at U.S.$1,204 (GH¢12,800) from U.S.$994,00 (GH¢10,560) per tonne. This translates into U.S.$75 (GH¢800) per bag from the U.S.$62 (GH¢660) for the just ended cocoa farming season and takes effect from October 7, 2022. Cocoa is the chief agricultural export of Ghana and is its main cash crop. Ghana is the second largest cocoa exporter in the world, after Cote d'Ivoire.
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