Skip to main content

Gov’t announces 62.74% increment in cocoa producer price

Government has announced a 62.74 per cent increment in the producer price of cocoa for the 2014/2015 season which opens on Friday, October 3, 2014.
The decision was reached Thursday, October 2, 2014 following a meeting by the Producer Price Review Committee (PPRC) on cocoa chaired by Finance Minister, Seth Terkper.
Thus the producer price of cocoa has now moved from GH¢3,392.00 per tonne to GH¢5,520.00 per tonne for the 2014/15 cocoa season.
This amount represents an increase in price of GH¢2,128.00 per tonne or 62.74% compared to the previous season.
This figure translates into GH¢345 per bag of 64 kg gross which represents about 75 percent of the net free-on-board (FOB) price of cocoa.
COCOBOD and Government have decided to pay bonus to farmers at the time of sale of their produce. Accordingly, an additional amount of GH¢5.00 per bag of 64kg gross weight has been approved.
“Therefore, for each bag of 64kg gross weight of cocoa sold by the farmer, the farmer shall be paid GH¢345.00 per bag plus GH¢5.00 as bonus,” the Finance Minister indicated in a release.
The release advised License Buying Companies (LBCs) to ensure that farmers are paid at the time of the sale of their produce GH¢350 per bag of 64Kg gross weight.

Credit: myjoyonline.com

Comments

Popular posts from this blog

PIAC told to go to court to enforce recommendations

By: Fred Yaw Sarpong
sarpong007@gmail.com

The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.

According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.

He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.

He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.

The workshop was organized by the Institute of Financ…

BoG shuts down two financial institutions

The Bank of Ghana has closed down two financial institutions in the country. This was after the central bank investigation revealed that the two companies were operating without approval.

The two companies were Agro Development Fund Services Limited (ADFSL) and Hebron Financial Investment Limited (HFIL).

The Daily Express gathered that the ADFSL was asked to stop operating after the central bank realized the institution had not been licensed to take deposit from the public.

A statement from BoG said the ADFSL continued to operate despite the orders from the Bank of Ghana. It however closed down ADFSL’s operation until further notice.

The Bank of Ghana said that the ADFSL is located at Asufufu, opposite the Sunyani Traditional Council in the Brong Ahafo region.

“The decision to close down ADFSL is in furtherance of section 20(2) (g) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Bank of Ghana has investigated ADFSL thoroughly and has concluded that its a…

Graphic Communication Group staffs petition GJA Election Dispute Adjudication Committee

Some staffs of the Graphic Communications Group have petition the Election Dispute Adjudication Committee of the Ghana Journalists Association (GJA) concerning their grievances covering issues affecting the association.
The staffs of the company seeks some clarification on the mandate of the current executives of the association.

BELOW IS THE FULL STATEMENT (Not edited)
Dear Sir,
DISPUTE ABOUT THE MANDATE OF THE EXECUTIVES OF THE GHANA JOURNALISTS ASSOCIATION AND THE LEGALITY OF THE GJA ELECTIONS OF 2017
We the undersigned write to place before you our grievances covering issues affecting the Ghana Journalist Association, and we hasten to add that our grievances are placed before you in furtherance of our constitutional duty under Article 11 (e) of the 2004 Constitution of the Ghana Journalists Association.
We first of all seek clarification on the mandate of the current executives of the Association to be in office and take decisions to affect the wellbeing and welfare of the Associ…