Business News Tue, 13 Nov 2007

Cocobod releases bonus payment to farmers

Accra, Nov. 13, GNA - Industry regulator Ghana Cocoa Board (COCOBOD) has released GH=A216.035 million as bonus payment to cocoa farmers for the 2006-07 crop year, the company said on Tuesday. A statement signed by Cocobod's Public Affairs Manager, Mrs Pauline Adobea Dadzawa, said the amount represented the first tranche of bonus payment for the period. Each farmer would be paid GH=A227.43 per tonne or GH=A21.71 per 64kg bag of cocoa.

The next tranche will be paid in June next year.


Addressing a press conference to formally open the 2007-08 season in Accra last month, Deputy Finance Minister George Gyan-Baffour announced the proposed bonuses as part of a general incentive package to "ensure that farmers have adequate money during the season". The government has since 2001 paid bonuses every year on Main crop purchases, except in the 2004-05 season.

Source: GNA