Government is expected to announce a new producer price for cocoa before the official commencement of the 2025/2026 crop season on August 7. This comes after the conclusion of technical deliberations by the Producer Price Review Committee.
According to reports, the committee has submitted its recommendations to government, paving the way for Finance Minister Dr. Cassiel Ato Forson to unveil the revised rate in the coming days.
Currently, the producer price stands at GH¢3,100 per 64kg bag and GH¢49,600 per metric tonne, a figure that may soon be adjusted upward as Ghana’s cocoa farmers anticipate a fairer deal in the face of rising global cocoa prices.
President John Mahama has reiterated his administration’s commitment to equity in the cocoa sector, vowing to ensure that Ghanaian cocoa farmers receive at least 70% of the world market price, a move he says is designed to “restore dignity and fairness to the backbone of Ghana’s agricultural economy.”
Meanwhile, Chief Executive Officer of COCOBOD, Dr. Randy Abbey, has expressed cautious optimism about the expected price increase. Dr. Abbey acknowledged the positive trend in global cocoa prices, but raised concerns about the impact of Ghana’s strengthening currency on farmers’ real income.
“What we are seeing now is a situation where global prices are high, and that would normally translate into higher incomes for our farmers. But with the cedi appreciating sharply, the gains could be reduced when translated into Ghana cedi,” Dr. Abbey explained.
Market watchers say this year’s announcement will be crucial, not only in determining farmer income but also in shaping government credibility and rural economic stability in a volatile currency environment.
As Ghana, the world’s second-largest cocoa producer, prepares for a new harvest, all eyes remain on the upcoming announcement which could serve as a litmus test for the government’s pro-farmer policy stance amid global market fluctuations and local fiscal constraints.
