Finance Minister Dr Cassiel Ato Forson has disclosed that the Ghana Cocoa Board (COCOBOD) will step up support for farmers with the supply of free fertilisers, insecticides and spraying machines.
He said the initiative formed part of government’s broader effort to sustain cocoa production while improving the welfare of farmers across the country. Existing interventions to boost productivity and livelihoods would also continue.
Dr Forson made the remarks in Accra on Thursday when he announced an increase in the producer price of cocoa to GHS3,625 per bag, equivalent to GHS58,000 per tonne.
The new price, which takes effect from Friday, represents a rise of about GHS400 per bag, or 12.27 per cent, over the level announced in August.
He explained that margins, fees and rates for other stakeholders in the cocoa value chain, including COCOBOD, remained unchanged, ensuring that the full benefit of the increase would go directly to farmers.
The Minister added that COCOBOD remained on course to implement a new Tertiary Education Scholarship Scheme for the children of cocoa farmers beginning in the 2026/27 academic year.
The announcement follows a significant upward adjustment in August when the producer price was increased from US$3,100 per tonne to US$5,040 per tonne.
That increment, which took effect on August 7, represented a 62.58 per cent rise in dollar terms and was pegged at 70 per cent of the gross Free-On-Board value of US$7,200 per tonne.
Dr Forson said the latest measures reaffirmed government’s determination to protect the livelihoods of cocoa farmers while securing the long-term sustainability of Ghana’s cocoa industry, a key pillar of the national economy.
