The Government of Ghana has unveiled a major revision to the cocoa producer price for the 2025/2026 season, announcing a jump from US $3,100 to US $5,040 per tonne—a 62.58% increase—in dollar terms, effective August 7, 2025, ahead of the new crop season’s opening.
At an exchange rate of approximately GH¢10.25 = US $1, the new rate translates to GH¢51,660 per tonne, or GH¢3,228.75 per 64 kg bag—up from GH¢3,100 using the previous peg of GH¢16/US $1—marking a 4% local-currency rise but a dramatic increase when measured in foreign earnings. The decision was taken by the Producer Price Review Committee, chaired by Finance Minister Dr Cassiel Ato Forson, following stakeholder consultations and technical review.
The revision realigns Ghana with President John Mahama’s pledge to pay farmers at least 70% of the FOB (Free-On-Board) value, estimated at around US $7,200/tonne for 2025, restoring parity with global market movement. Under the prior administration, Ghana had set the FOB value for the 2024/25 season at US $4,850 and the producer price at US $3,100—roughly 63.9% of FOB, despite stronger global cocoa prices—increasing pressure on farmers grappling with inflation and payment delays. The new rate aims to narrow the gap, counteract escalating smuggling, and discourage bean hoarding, which eroded output by an estimated 160,000 tonnes—over one third of national production—in the 2023/24 season as farmers sold illicitly across borders for better yields.
Supporting the revised price, the government also approved updated margin schedules for licensed buying companies, hauliers, warehouse handlers and quality inspectors; pledged logistics support including jute sacks and transport; and rolled out a reintroduced free fertiliser programme alongside fungicides, spraying equipment and flower inducers designed to boost yields and support smallholder farmers.
These policy moves come amid a deepening cocoa crisis—global futures have surged above US $10,000/tonne due to back-to-back yield shocks from weather and disease, while cocoa smugglers now operate as organised syndicates offering premiums that undercut official rates unless Ghanaic prices rise. COCOBOD CEO Dr Randy Abbey has cautioned that prior measures, such as pegging the cedi artificially high (GH¢16/US $1) have created temporary relief, but the underlying issue of exchange rate strength and inflation may still erode real farmgate revenue for farmers unless payouts continue to track world markets.
Critics warn that without structural reforms and enforcement—particularly at borders and in rural buying zones—smuggling could exceed 200,000 tonnes, stripping Ghana of both income and international credibility ahead of EU deforestation-traceability rules set to take effect in December 2025.
Yet proponents affirm that if managed transparently—with clear pricing, credible input programmes, and cooperative extension—this adjustment represents the boldest alignment of sector policy and farmer interest in Ghana’s recent agricultural history.
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