Cocoa price increased from GH¢800 to GH¢1,308 per bag

The government has set a new cocoa price for the 2023/2024 season.

The price per bag was raised from GH800 to GH1,308.

President Nana Addo Dankwa Akufo-Addo revealed the higher price as he inaugurated the new cocoa season.

It was also declared that the cocoa season will now begin in September rather than October as previously.

The new price, according to President Akufo-Addo, is the highest in West Africa in the last 15 years.

He stated that the price hike was necessary to preserve cocoa production in the country, which he concedes is the country's backbone.