Politics

64-Kilo Bag Of Cocoa In Ghana Is Now Sold At GH¢515

A 64-kilo bag of Cocoa would now be sold at GH¢515, while a tone would go for GH¢8,249 for 2019/20 Crop season.

That price was last increased by 11.76 per cent in October 2016 to cover the 2016/2017 season. Since then, it has remained unchanged at GH¢7,600 per tonne, translating into GH¢475 per bag of 64 kilogrammes (kg) gross weight.

Within the same period, however, the price of cocoa on the international market suffered a tumultuous fall, dropping from an average of US$2,500 per tonne in November 2016 before ending that year at US$2,287 per tonne, according to the International Cocoa Organisation (ICCO).

The price of cocoa remained bearish throughout 2017, rising only in October before falling again to end December at US$1,917.68 per tonne, according to the world cocoa body.

In 2018, ICCO’s data showed that prices strengthened consistently to peak at US$2,659.9 per tonne in May before fluctuating throughout the remaining part of the year.

The Bloomberg Terminal, which also tracks global prices of the crop, quoted it at US$2,245 per tonne on the morning of April 25.

Source: Kofi Atakora/Joydaddymultimedia.com

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