Ivory Coast has raised the fixed farmgate price paid to cocoa farmers by over 9% to 900 CFA francs ($1.33) per kilogramme from 825 CFA francs for the main crop of the 2022/2023 season starting on Oct. 1, Vice-President Tiemoko Meyliet Kone said on Friday.
The farmgate price for coffee was raised to 750 CFA francs per kilogramme from 700 CFA francs, he added.
The global cocoa market recorded a supply deficit in the 2021/2022 season, which ends on Sept. 30, largely due to strong winds and lack of rain in the world's top two producers Ivory Coast and Ghana.
Harmattan - dry, strong winds that blow from the Sahara to West Africa - have been intense this year and negatively impacted tree canopy.
Fertilizer shortages linked to the war in Ukraine as well as an economic crisis in Ghana could further hamper production next season.
Latest Stories
-
‘¢25m is just a drop in the ocean’ – WAEC on delayed results
3 minutes -
NPP’s Central Regional Chair, Robert Kutin dead
9 minutes -
Global Football Festival promises football museum and music experience on December 27
12 minutes -
Saudi warnings about market attack suspect were ignored
12 minutes -
Trump threatens to try to regain control of Panama Canal
19 minutes -
Court orders police to determine gender of accused
24 minutes -
Ghana’s gold production to rise marginally by 3% in 2025 – Deloitte
27 minutes -
A man’s suicide leads to clamour around India’s dowry law
28 minutes -
Asante Gold Corporation enters into $500m agreement with Fujairah Holdings LLC
32 minutes -
ECG Power Queens support Ho Female Prison
2 hours -
Don’t appoint a new EC Chair; allow Jean Mensa to work – Prof. Stephen Adei to Mahama
2 hours -
Bayer Leverkusen’s Jeremie Frimpong arrives in Ghana for visit
2 hours -
‘It will be disastrous if Mahama removes the Chief Justice’ – Prof. Stephen Adei
2 hours -
Jean Mensa must step down as EC Chair – APC and Movement for Change assert
3 hours -
Akufo-Addo calls on police to refine strategies to avoid prolonged electoral unrest
3 hours