Ghanaian cocoa farmers will receive GH¢1,008 more per tonne for their cocoa in the 2026/2027 season after the Ghana Cocoa Board (COCOBOD) raised the producer price from GH¢41,392 to GH¢42,400.
The adjustment represents a 2.4% increase and was announced by COCOBOD Chief Executive, Dr. Randy Abbey, as Ghana opened the new cocoa season.
Alongside the new producer price, COCOBOD announced a realised Free-On-Board (FOB) price of US$2,650 per tonne for the season.
At the new producer price, farmers will receive 71.18% of the realised FOB value, placing the farmer share above the 70% minimum provided under Ghana’s new cocoa pricing framework.
The price adjustment comes under reforms introduced to strengthen the financial sustainability of the cocoa sector while protecting farmers against sharp movements in international cocoa prices and exchange rates.
The Ghana Cocoa Board Act, 2026 provides for an automatic producer-price adjustment mechanism linked to international cocoa prices, exchange-rate movements and other relevant factors.
Importantly, the framework guarantees cocoa farmers at least 70% of the gross FOB price. COCOBOD also changes how cocoa purchases are financed. The new cocoa season begins alongside efforts to reshape how COCOBOD finances cocoa purchases.
The government is seeking to reduce the board’s dependence on traditional international syndicated loans by bringing more domestic investors into cocoa financing.
A key part of this strategy is the proposed Cocoa Notes Programme, which would allow COCOBOD to raise funds from Ghana’s domestic capital market to finance cocoa purchases and related operations.
The 2026/2027 season therefore opens with two significant changes: farmers are receiving a higher producer price, while COCOBOD is moving towards a new financing structure designed to reduce its reliance on external syndicated borrowing.
