Local cocoa farmers are describing the latest raise in the producer price of the cash crop, as inadequate, and demanding better wages.
The government approved a significant increase in the producer price of cocoa, raising it from US$3,100 to US$5,040 per tonne for the upcoming 2025/2026 season, effective Thursday, August 7, 2025.
With an average exchange rate of GH¢10.25 to the US dollar, the increase means cocoa farmers will now receive GH¢51,660 per tonne or GH¢3,228.75 per 64-kilogramme bag of cocoa.
Announcing the new price, the Finance Minister, Dr. Cassiel Ato Forson explained that the new price represents a 62.58 per cent increase in US dollar terms and aligns with President Mahama’s pledge to ensure cocoa farmers receive 70 per cent of the Free-On-Board (FOB) value.
Speaking with Citibusiness News, the President of the Mankrong Cocoa Cooperative Farmers Association Francis Teinor said “cocoa farmers across the country were expecting something higher than the figure announced by the government. So as at now, no farmer in Ghana will be happy with the new price.”
He continued that “although the challenge in the system and the indicators doesn’t favour the Ghana Cocoa Board (COCOBOD) we were still agitating for more than what was announced. We were expecting around GHC 3,500 per bag” he concluded.
