Gov’t to Announce New Cocoa Producer Price Before August 7
The government is expected to announce a new producer price for cocoa ahead of the commencement of the 2025/2026 crop season on August 7, authoritative sources have disclosed.
This follows the completion of technical assessments by the Producer Price Committee, paving the way for a final determination and official announcement by the Finance Minister, Dr. Cassiel Ato Forson, in the coming days.
The current producer price stands at GH¢3,100 per bag (64kg) and GH¢49,600 per metric tonne. Market watchers anticipate a possible upward adjustment in line with prevailing global cocoa prices, which have surged in recent months.
However, concerns have emerged regarding the impact of the cedi’s sharp appreciation on farmers’ real incomes, despite higher international prices.
Dr. Randy Abbey, Chief Executive of the Ghana Cocoa Board (COCOBOD), in a recent interview, acknowledged that while world market prices are rising, the strong performance of the Ghanaian cedi could erode the potential gains for farmers when converted into local currency.
“What we are seeing now is a situation where global prices are high, and that would normally translate into higher incomes for our farmers. But with the cedi appreciating sharply, the gains could be reduced when translated into Ghana cedi,” Dr. Abbey explained.
Meanwhile, President John Mahama, earlier this month, reaffirmed his administration’s commitment to ensuring that cocoa farmers receive no less than 70 percent of the international market price for cocoa, as part of efforts to restore fairness and dignity to Ghana’s cocoa producers.
The upcoming adjustment in the producer price is likely to reflect this policy stance, as the government looks to balance international market trends, fiscal considerations, and farmer welfare.
