Cocoa Farmers to Protest Against GHS 3,228 New Farmgate Price on August 11, Demand GHS 4,000 per Bag
A group of cocoa farmers under the banner of Concerned Cocoa Farmers of Ghana has served notice of a planned demonstration at the Cocoa House, headquarters of the Ghana Cocoa Board (COCOBOD), on Monday, August 11, 2025.
The protest, according to the group, is in response to what it describes as an “unacceptable” increment in the 2025/2026 farmgate price of cocoa, which was increased to GHS 3,228 per 64kg bag—up by GHS 128 from the GHS 3,100 per bag offered in the previous crop season.
President of the Concerned Cocoa Farmers of Ghana, Nana Bonsu, who made the disclosure in an interview on Wednesday, August 6, expressed the farmers’ disappointment with the new price, noting that expectations ahead of the announcement had been for a minimum price of GHS 4,000 per bag.
“Farmers were looking forward to nothing less than GHS 4,000 per bag,” he said. “The GHS 128 increase is woefully inadequate and a betrayal of the sacrifices cocoa farmers continue to make for the economy.”
While commending the government for introducing incentive packages such as free fertilizers and pesticides to improve productivity, Nana Bonsu criticised the initiative as ineffective, citing the diversion of inputs through corrupt distribution channels.
“Most of us don’t benefit from these so-called free inputs. They are often hijacked and sold by middlemen. If government is serious, it should add the value of these inputs to the farmgate price and allow farmers to procure their own,” he added.
Government’s justification
The Finance Minister, Dr Cassiel Ato Forson, on Monday, August 4, announced the revised cocoa producer price of GHS 51,660 per tonne, equivalent to GHS 3,228.75 per 64kg bag, marking a 62.58% increase in dollar terms—from $3,100 to $5,040 per tonne.
The new price, he explained, represents 70% of the gross Free-On-Board (FOB) value of $7,200 per tonne and aligns with President John Dramani Mahama’s pledge to ensure cocoa farmers receive at least 70% of the international cocoa market price.
The FOB value was arrived at based on 100,000 tonnes of forward contracts sold at an average of $7,600 per tonne during the 2023/2024 season, along with price forecasts for the upcoming season. An exchange rate of GHS 10.25 to the US dollar was used in computing the cedi equivalent of the new price.
According to the Minister, the new farmgate price officially takes effect on Thursday, August 7, 2025.
