In just two months, the Ghanaian government has increased the cocoa producer price, raising it by GH¢ 396 per bag from GH¢ 3,228.75 to GH¢ 3,625 per bag, or GH¢58,000 per tonne, for the 2025/26 season. The rise represents a 12.27% increase over the price set in August.
“Following extensive consultations with stakeholders, Government has decided to increase the producer price of cocoa to GH¢3,625 per bag or GH¢58,000 per tonne. The new price takes effect tomorrow, Friday, 3rd October 2025,” the Ministry of Finance said.
The decision comes after cocoa farmers expressed disappointment over the first price, which many said was too low to cover their production costs. The increase means farmers will now earn more per bag, helping with day-to-day farm expenses like fertilizers, spraying, and other inputs.
The timing of the price increase is likely linked to the recent depreciation of the Ghana Cedi. When the first price was announced in August, international cocoa prices were up, but the cedi was relatively strong at GH¢ 10.78 per US dollar. Since then, the cedi has weakened, trading recently at GH¢12.40 in the interbank market and between ₵13.40 and ₵13.50 per $1 in the retail market.
On October 1, official Bank of Ghana rates were 12.41 cedis for buying and 12.43 for selling, with a midrate of 12.42 cedis per US dollar, while retail bureaus quoted a midrate of 13.38 cedis. The weakening cedi means the local value of cocoa exports has changed, making the timing of the increase likely related to the currency’s depreciation.
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According to the ministry, COCOBOD will continue to support farmers with free fertilizers, insecticides, spraying machines, fungicides, and flower inducers. The board is also on track to implement a Tertiary Education Scholarship Scheme for children of cocoa farmers in the 2026/27 academic year.
The government further reaffirmed its commitment to building a strong and sustainable cocoa industry, ensuring farmers and other stakeholders benefit from their work.
