Government, through the Tree Crop Development Authority, has announced the Producer Price for rubber and oil palm for the month of January.
Rubber will be sold for 4.9167 Ghana cedis per kilo, while that of oil palm is 1,252.92 Ghana cedis per tonne.
The Tree Crop Development Authority (TCDA), is now the body in charge of the regulation and development of production, processing, trading, and marketing of six tree crops in Ghana. These are rubber, oil palm, cashew, shea, mango, and coconut.
The Authority after several engagements with key stakeholders, arrived at the formula for determining the Minimum Producer Price for raw rubber and Oil Palm Fresh Fruit Bunch on monthly basis. The determinants for the pricing include the Cedi to dollar exchange rate sourced from the Bank of Ghana, the average price of crude palm oil and crude palm kernel oil sourced from Reuters, as well as the international price of Technically Specified Rubber sourced from the Singapore Commodity Market.
Others include margins for Miller, aggregation and transportation, and TCDA levy.
A Deputy Minister of Agriculture, Mr Yaw Frimpong Addo who announced the Minimum Producer Price, said the introduction of the monthly pricing formula will protect farmers against exploitation.
The CEO of the TCDA, William Agyapong Quaitoo said the overall objective is to ensure uniformity in pricing of the two commodities and make farmers benefit from their hardworking. He explained that, the pricing formula took into consideration all those in the value chain by giving margins for their operations.
