COCOBOD opens cocoa light crop season, price unchanged at GHc7,600 /tonne

Ghana’s Cocobod will open its cocoa light crop purchases today, Friday June 21, maintaining the price it pays farmers at GHc7,600 (US$1,407) per tonne, the regulator said on Wednesday.

The world’s second largest cocoa exporter after Ivory Coast runs a two-cycle cocoa season consisting of the main crop which is mainly exported and the light crop harvest, discounted for local grinders.

The producer price will be GHc 228 for a 30-kg bag, GHc 475 for 64 kg, and a tonne in 16 bags equalling GHc 7,600, Cocobod said in a statement.

The light crop season usually lasts for 11 weeks.

Ghana and top grower Ivory Coast are trying to use their market supply dominance to get international buyers to pay a higher price for their cocoa, which has been depressed by oversupply in the last few years. Buyers agreed on Wednesday to their demand of US$ 2,600 per tonne.

Source: Reuters