Ghana Plans to Slightly Raise Cocoa Farmgate Price as Cedi Gains

Ghana is planning to raise the price it pays to cocoa farmers for their beans just slightly in the next season, after the local currency gained 42% against the dollar this year.

Negotiations between industry regulator Ghana Cocoa Board and the government suggest that the farmgate price may be raised by 6.5% to 3,300 cedis ($318.5) per 64-kilogram bag for the harvest that starts in August, according to people familiar with the talks, who asked not to be identified because the information isn’t yet public.