Government Announces Floor Price For Shea nut

The Government of Ghana has for the first time has announced a floor price for sheanut purchases at GH¢32.00 per bag of 80kgs.

The purchase price takes immediate effect and it is expected that it will prevent the exploitation of sheanut pickers and farmers by marketing agents.

This was in a statement from the Information Ministry, signed by a Deputy Minister, Mr. Samuel Okudzeto Ablakwa yesterday and copied to the Information services Department.

It said according to the Ghana Cocoa Board (COCOBOD), the recommended floor price took into consideration “the average cost of production of the pickers and farmers and a margin to enable them make a profit.” The floor price also took cognisance of the price of shea and equivalent products on the international market.

The statement said COCOBOD warns that Licensed Buying Companies (LBC) “that pay below the approved floor price for sheanut purchases will be liable to severe sanctions.”

The fixing of a floor price for sheanut purchases is a further demonstration of government’s commitment to improving the lot of sheanut pickers and farmers develop a profitable sheanut business and diversify our focus on cash crops.

The Government is expected to announce a Sheanut Development Board in the coming weeks, ahead of the completion of a new Sheanut Processing Factory in Buipe in the Northern Region. The statement concluded.

Source: ISD

Leave a Reply