The Minority in Parliament has fiercely rejected the government’s newly announced producer price for cocoa, accusing the ruling administration of manipulating figures to shortchange farmers.
Government, on Monday, August 4, 2025, increased the producer price from GH¢3,100 to GH¢3,228 per bag of cocoa for the 2025/2026 crop season.
The Finance Minister, Dr. Cassiel Ato Forson, together with COCOBOD CEO Dr. Randy Abbey, defended the adjustment, claiming it represents 70% of the Free-On-Board (FOB) value pegged at US$7,200 per tonne — in line with global cocoa pricing benchmarks.
Dr. Forson explained that the price reflects a 62.58% increase in dollar terms and said it marks a fairer deal compared to the previous administration’s 2024/2025 cocoa season, when farmers were paid only 63.9% of the FOB value, despite favorable world prices at the time.
He added that the FOB benchmark used by government is based on approximately 100,000 tonnes of cocoa already sold at US$2,600 per tonne during the 2023/2024 season, alongside projections for the upcoming crop year.
However, the Minority, led by Isaac Yaw Opoku — Ranking Member on Parliament’s Committee on Food, Agriculture and Cocoa Affairs — insists the new pricing is inadequate and fails to reflect current market conditions.
The Offinso South MP accused the government of breaching promises made to farmers while in opposition and demanded a formal apology to cocoa producers.
Mr. Opoku also criticized the government for setting a price lower than that offered by neighboring Ivory Coast, suggesting that Ghanaian farmers are being unfairly treated despite their significant contribution to the economy.
Source: Starrfm.com.gh
