§ 79. Mr. T. Reidasked the Secretary of State for the Colonies the justification for the recent increase in the price of Gold Coast cocoa by about 70 per cent.
§ Mr. Rees-WilliamsThe Gold Coast Cocoa Marketing Board, which is now solely responsible for the marketing of the Gold Coast crop, has fixed the seasonal price payable to the farmers for the 1947/1948 crop at 40s. a load of 60 lb., an increase of 45.4 per cent. over last year's price of 27s. 6d. This is hardly remarkable in view of the fact that the world market value of cocoa has more than doubled since September, 1946. Any difference between the fixed price and the price realised on sales overseas will, of course, be retained by the board for the future benefit of producers.