Government
increases cocoa price by 11 per cent
Accra (Greater Accra) 04 May 2001
The Ghana Association of Bankers,
on Wednesday May 2, announced the following average inter bank exchange rates
of the cedi to the dollar and derived rates for other major foreign currencies.
Currency Buying Selling
US Dollar 7,039.73
7,245.18
Pound Sterling 10,080.19
10,378.00
French Franc 957.03 984.40
Swiss Franc 4,071.82 4,189.41
Deutsche Mark
3,208.72 3,302.46
Canadian Dollar 4,596.32 4,727.37
Japanese Yen
57.75 59.42
Dutch Guilder 2,848.07 2,929.65
S/African Rand
848.38 901.77
Euro 6,276.19 6,456.79
CFA Franc
9.57 9.84
Naira
64.80 66.69
Ecowas/WAUA
8,949.61 -------------
GRi…/
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Government
increases cocoa price by 11 per cent
Accra (Greater Accra) 04 May 2001
The government on Tuesday announced
an 11-per cent increase in the producer price of cocoa from 3,475,000 cedis per
tonne to 3,872,000 cedis per tonne.
A statement signed by Mr S. K.
Appah, Acting Chief Executive of Ghana Cocoa Board in Accra said a bag of cocoa
will now sell at 242,000 cedis, up from 217,187.50 cedis.
The statement said the new price
takes effect from the Light Crop Season. The old price of cocoa was fixed in
October last year.
The statement recalled that during
the presentation of the 2001 budget to parliament, the Minister of Finance, Mr
Yaw Osafo-Maafo, said the government had decided to pay compensation to cocoa
farmers in respect of the 2000/01 main crop season.
He said half of the amount would
be paid in cash while the remaining half would be used in financing mass spraying
of farms to control diseases and insect pests that plague cocoa farms.
"It is expected that this
exercise will not only help to increase productivity but will also create jobs
for the youth in the rural areas," the statement said.
It said subsequent to this, the
government has reviewed both the world cocoa market and the domestic economic
situations and their impact on cocoa farmers.
"It is in order to continue
to support cocoa farmers to increase productivity and boost production that the
government has decided to increase the producer price of the commodity",
the statement said.
Meanwhile, the Ghana Cocoa Board on Thursday announced that purchases of the 2001 light crop cocoa season would commence on Friday.
A statement issued in Accra by Mr Chris Awuah, Public Relations Manager, said the producer price to be paid at all buying centres is 116,160 cedis per load of 30 kilograms for grade one and two naked ex-scale or 242,000 cedis per bag of 64 kilogrammes. One tonne of 16 bags is 3,872,000 cedis.
GRi…/
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