ACCRA, June 7 Ghana will begin its minor cocoa
mid-crop purchases on Friday and will keep the price at which it
buys beans from farmers at 7,600 cedis ($1,914) per tonne,
industry regulator Cocobod said on Wednesday.
Cocobod has projected to buy around 70,000 tonnes of beans
through the usually 11-week mid-crop harvest which is discounted
to local grinders.
"The producer price to be paid at all buying centres is 475
cedis per bag of 64 kilograms gross. This translates to 7,600
cedis per tonne," Cocobod said in a statement.
The world's largest cocoa grower after Ivory Coast is
targeting an output of at least 850,000 tonnes of beans by the
end of the 2016-17 season in September, up from 780,000 the
Cocobod Chief Executive Joseph Boahen Aidoo said on Tuesday
that Ghana might not pay annual bonuses to cocoa farmers this
year due to a drop in global prices which had cost Cocobod
around $1 billion in the last two years.
The government of President Nana Akufo-Addo has outlined
plans to raise production to 1 million tonnes by 2020, by
improving farming techniques and efficient disease control.
(Reporting by Kwasi Kpodo; Editing by Susan Fenton)