DUE to a good cocoa crop last year, government has increased the price of cocoa to $20 per kilogramme- a plus for cocoa farmers.
Some 1700 farmers are expected to benefit from this increase.
A press release from the Ministry of Food Production yesterday stated the $20 per kilogramme price will be for Grade 1 cocoa and the wet cocoa bean will be bought at $7 per kilogramme.
The price came into effect from October 1, 2013. However, it was only on February 1 that the price increase for purchasing agents came into effect.
The government through the Cocoa and Coffee Industry Board (CCIB) will pay farmers retroactively from the period October 1,2013 to January 31, 2014.
The release stated because of increasing production costs, farmers were continuously asking for price increases and for the crop year 2013/2014, there was a five percent increase.For the period 2012/2013, the CCIB increased the price by six percent.
And the Ministry of Food Production reminded the public of the success of the cocoa industry at the Cocoa of Excellence (COE) International Cocoa Awards in Paris, France last year. Trinidad and Tobago through the Ministry's La Reunion Estate had two samples among the top 50 high quality samples. It also won one of the 14 International Cocoa Awards for the Central American and Caribbean Region.