Ghana Cocoa Beans insights

This morning, the cocoa market reached a new peak after breaking through the technical resistance of $7,250 in the March contract, quickly reaching the range between $7,500 and $7,550. This movement activated protective orders (stops) and lifted the market to levels that reflect a combination of adverse weather factors and critical inventory levels.

By Buertey Francis BORYOR At National Farmers’ Day, 2024 awards ceremony, held in Accra, Ghana’s cocoa farmers expressed joy- as President Nana Akufo-Addo announced an increase in the cash crop’s producer price from GH₵3,000 to GH₵3,100 per 64kg bag. This represents a minor increase of 3.3 percent over the previous rate announced in September for the 2024/2025 crop season. The GH₵49,600 per tonne adjustment aims to align cocoa prices with market realities and provide further support to producers. On the night, Alex Kwame, a 46-year-old dynamic cocoa farmer from the Prestea- Huni Valley district in the Western region was adjudged the National Best Cocoa Farmer for the 2023/2024 Crop Year.  He owns 26 different farms, totalling an area of 52. 18 hectares. Mr. Kwame, while speaking to the Business and Financial Times (B&FT) after the event- expressed joy over the new cocoa producer price increase- describing it as unexpected and heartwarming. Additionally, he was grateful to the Pres

Experts expect cocoa bean prices in Ghana to rise in the upcoming 2024-2025 season after falling in the 2023-2024 season, Agence Ecofin reports, citing the Ghanaian National Cocoa Purchasing Authority.