The Government of Ghana has announced a significant increase in the producer price of cocoa, raising it from US$3,100 to US$5,040 per tonne for the 2025/2026 season, which opens on Thursday, August 7, 2025.
This was disclosed by the Minister of Finance, Cassiel Ato Forson, in a post on his official Facebook page on Monday, August 4. The announcement follows a meeting of the Producer Price Review Committee (PPRC) on Cocoa, chaired by the Minister.
According to Mr. Forson, the new price represents a 62.58% increase in dollar terms and constitutes 70% of the gross Free-On-Board (FOB) value of cocoa, which is pegged at US$7,200 per tonne.
“This increase aligns with President Mahama’s promise to pay cocoa farmers 70% of the FOB price,” the Finance Minister noted.
He contrasted the new price structure with that of the previous administration, stating that during the 2024/2025 cocoa season, the former government set the FOB at US$4,850 per tonne and paid farmers US$3,100 per tonne, representing only 63.9% of the FOB, despite favorable global prices at the time.
Mr. Forson further explained that the gross FOB value for the 2025/2026 season was determined using outstanding cocoa contracts of about 100,000 tonnes sold at US$2,600 per tonne during the 2023/2024 crop season, alongside average forecasts for the coming season.
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In local currency terms, using an average exchange rate of GHS10.25 to the US dollar, the producer price has been increased from GHS49,600 to GHS51,660 per tonne, translating to GHS3,228.75 per 64-kilogram bag of cocoa.
The Finance Minister emphasized that the new prices will take effect starting Thursday, August 7, 2025, offering a significant boost to the income of cocoa farmers across the country.
Source: Starrfm.com.gh
