Ghana Government Increases Cocoa Producer Price by 62.58 Per Cent
- The government has announced a 62.58% increase in the producer price of cocoa for the 2025/2026 season, setting it at US$5,040 per tonne
- This price hike aligns with President John Mahama's promise to pay cocoa farmers 70 per cent of the FOB value, set at US$7,200 per tonne
- The new price, effective from August 7, 2025, is expected to improve the livelihoods of cocoa farmers and boost Ghana's cocoa industry
The Government of Ghana, under the leadership of President John Dramani Mahama, has announced a significant increase in the producer price of cocoa for the 2025/2026 season.
Set at US$5,040 per tonne, the new price represents a 62.58 per cent increase from the previous season's price of US$3,100 per tonne.
Source: UGC
The increased producer price aligns with President Mahama's promise to pay cocoa farmers 70 per cent of the Free-On-Board (FOB) value.
This was disclosed by the Finance Minister, Dr Cassiel Ato Forson, on Monday, August 4, 2025 on his Facebook wall.
According to him, the FOB value for the 2025/2026 season has been set at US$7,200 per tonne, with the producer price representing 70 per cent of this value.
Dr Forson explained that the new producer price translates to GH¢51,660 per tonne, or GH¢3,228.75 per bag of 64-kilogram gross weight of cocoa, based on an average exchange rate of GH¢10.25 to the US Dollar.
The Finance Minister's post is below:
Cocoa farmers to benefit from new prices
This increase, according to the Finance Minister, is expected to benefit Ghana's cocoa farmers, who are crucial to the country's economy.
The government's decision, Dr Forson said, marks a significant improvement from the previous season, where the producer price was set at US$3,100 per tonne, representing 63.9 per cent of the FOB value of US$4,850 per tonne.
He added that the new price is expected to boost the livelihoods of cocoa farmers and contribute to the growth of Ghana's cocoa industry.
The new producer price takes effect from Thursday, August 7, 2025, marking a new beginning for Ghana's cocoa sector.
Ghanaians praise government for new cocoa prices
Ghanaians on social media have praised the government for the new cocoa producer price.
YEN.com.gh compiled a few of the comments:
@Ibrahim Abdul - Rahman said:
"Kudos to the government for this monumental decision! The 62.58% increase in producer price for cocoa farmers is a significant boost to their livelihoods. Paying 70% of the FOB price is a testament to the government's commitment to supporting farmers. This move will undoubtedly motivate farmers to increase production, benefiting the entire cocoa industry. Well done!"
@Peter Zanku also said:
"Welcoming news ! Kindly elaborate more.... how much per bag and tonne then and now?"
@Nicholas A Nicholas commented:
"Hon. Minister, if I recall per your mid year budget presentation, you made it know to us that, everyone should quote in our currency (Ghana cedis) other than us dollar.. I pray you don't forget and walk the talk. God bless your vision for the country. Thank you."
Source: UGC
Ghana’s cocoa sector in crisis
Earlier, YEN.com.gh reported that Ghana's cocoa export revenue dropped by nearly $700 million in the first half of 2024 amid illegal mining and smuggling challenges.
Joy News cited a Bank of Ghana report indicating that cocoa export returns dropped from $1.45 billion in the first half of 2023 to $760 million in the same period for 2024.
This marked a 47.7% decline. Cocoa export revenues had slumped after COVID-19 hit, with half-year inflows showing a 34% decline, leading to a $1 billion loss since 2021.
Proofreading by Bruce Douglas, copy editor at YEN.com.gh.
Source: YEN.com.gh
