Government Mulls Hike in Farmgate Cocoa Price to GHS 3,300 per bag for 2025/2026 Crop Season
Ghana is set to marginally increase the price it pays cocoa farmers for their beans in the upcoming crop season, due to recent strength in the local currency.
According to persons with knowledge of the matter, ongoing discussions between the Ghana Cocoa Board (COCOBOD) and the government point to a 6.5% increase in the farmgate price for the 2025/2026 main crop season, which commences in August. This would see the producer price rise to GHS 3,300 ($318.50) per 64-kilogram bag, up from the current GHS 3,100.
The modest adjustment comes against the backdrop of a 42% appreciation of the cedi against the US dollar so far this year, a development that has significantly improved the local value of export revenues.
Industry analysts say the decision to implement only a marginal increase reflects the government’s balancing act between supporting farmer incomes and maintaining fiscal discipline amid a challenging macroeconomic recovery programme.
Ghana, the world’s second-largest cocoa producer, sets a fixed price each season to guarantee stable incomes for its cocoa farmers, who are estimated to number over 800,000.
An official announcement on the new farmgate price is expected in the coming weeks.
