Ghana Cocoa Board (COCOBOD) has assured farmers that the upcoming cocoa producer price, expected to be announced in August, will exceed that of neighboring Côte d’Ivoire.
This pledge comes amid rising global cocoa prices and growing pressure for a more competitive farmgate rate.
COCOBOD says despite financial setbacks inherited from previous management, it remains committed to delivering better earnings for farmers.
Currently, Ghana’s producer price stands at GH₵3,100 per 64kg bag. In April, Côte d’Ivoire raised its mid-crop farmgate price to 2,200 CFA francs (approximately $3.62) per kilogram due to an anticipated lower harvest.
COCOBOD’s Head of Public Affairs, Jerome Sam, said farmers should expect an improved rate. He noted that inefficiencies under the previous administration have already cost Ghana $1.4 billion in losses tied to undelivered cocoa contracts, but emphasized that farmers shouldn’t bear the brunt.
“If we’re using Côte d’Ivoire as a benchmark, we are committed to offering more than they are,” Sam stated.
He added that while COCOBOD’s board is yet to be inaugurated, internal projections already point to a favorable adjustment in the producer price.
