The Government of Ghana is expected to announce a new producer price for cocoa ahead of the start of the 2025/2026 crop season, which is scheduled to commence on August 7, 2025.
This development follows the completion of work by the Technical Committee on Producer Price, whose recommendations have been submitted for final consideration by the government.
Sources close to the process indicate that the Minister for Finance, Dr. Cassiel Ato Forson, will announce the revised producer price in the coming days.
Currently, the producer price for cocoa is set at GH¢3,100 per 64kg bag and GH¢49,600 per tonne. However, stakeholders anticipate an upward adjustment in response to rising global market prices.
Earlier this month, President John Mahama reiterated his administration’s commitment to ensuring that Ghanaian cocoa farmers receive at least 70 percent of the international market price. He noted that this policy is intended to promote equity and restore dignity to cocoa farmers, who form the backbone of the country’s agricultural economy.
Meanwhile, the Chief Executive Officer of COCOBOD, Dr. Randy Abbey, has raised concerns about the potential impact of the Ghana cedi’s sharp appreciation on the real income of cocoa farmers.
In an interview on the PM Express Business Edition, Dr. Abbey noted that although international cocoa prices have seen significant gains, the strengthening of the local currency may erode the benefits when prices are converted from dollars to cedis.
“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,” he explained.
As anticipation builds across cocoa-growing communities, stakeholders await the government’s final decision, which could significantly impact the livelihoods of thousands of farmers across the country.
