The Minister of Finance, Dr. Cassiel Ato Forson, has announced an upward adjustment in the producer price of cocoa, granting farmers an additional GH¢400 per bag effective Friday, October 03, 2025
The decision was reached after consultations between the Finance Ministry and the Producer Price Committee of Cocoa at an emergency meeting in Accra.
With the increment, the price of a bag of cocoa rises from GH¢3,228 to GH¢3,628, a move Dr. Forson described as necessary to ensure Ghana remains competitive with neighbouring Ivory Coast while reflecting recent shifts in the economy.
This represents an increase of about GHS400 per bag, equivalent to a 12.27% rise over the price announced in August.
Explaining the rationale, the Finance Minister said forecasting in the sector required constant review.
“A lot goes into forecasting, some market sensitive. But I want to say that the same forecast we used in arriving at the initial price, we’ve seen some changes. And as we’ve said, we’ve come back to present factors that reflect the need for us to increase the cocoa price by 400 Ghana cedis.”
The Finance Minister said further details of the increment and the factors behind it will be outlined later by the ministry.
He stressed that the increment translates into significant gains for farmers.
“I’m sure for the average Ghanaian farmer, they are getting 400 Ghana cedis extra. So if you are to sell 10 bags of cocoa, you are getting 400 times 10, which is 4,000 Ghana cedis. In the same vein, if you are to do 20 bags, you are going to get 8,000 Ghana cedis.
That is what translates to the cocoa farmer. And this is coming at a time that prices of goods and services are also coming down. So the purchasing power of the cocoa farmer has not only been enhanced, but their cost of living has also been enhanced.”
Source: Starrfm.com.gh
