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Ghana Cocoa Farmers May See Rates Retained as World Price Falls
 
Posted on: 03-Oct-2013        
 
 
 
Ghana, the second-biggest producer of cocoa, will probably keep paying farmers the same rate for the beans even after world prices fell, the nation’s regulator said.

“We are likely to be maintaining the price we pay to farmers although world market prices have dipped,” Said Noah Amenyah, spokesman for the country’s cocoa board, said today.

Farmers will get as much as 78 percent of the free on board rate, with the rest divided between buyers, hauliers and research and administration, he said in an interview. They would normally get 70 percent, Amenyah said in the capital, Accra.

Growers will receive 3,392 cedis ($1,600) a metric ton for the 2013-14 season, which will start after an announcement by the finance minister between Oct. 11 and Oct. 18, he said.