The government has announced an increase in the producer price of cocoa, raising it from US$3,100 per tonne to US$5,040 for the forthcoming 2025/2026 season.
The Finance Minister, Dr. Cassiel Ato Forso, announced on Monday, August 4, following a meeting with the Producer Price Review Committee (PPRC), which he chairs.
Dr. Forson clarified that the revised price signifies a 62.58 percent increase in terms of US dollars and is in accordance with President Mahama’s commitment to ensure that cocoa farmers receive 70 percent of the Free-On-Board (FOB) value.
“Government has by this decision increased the producer price significantly… representing 70% of the gross FOB value of $7,200 per tonne,” he stated.
In comparing the new policy with that of the previous administration, the Minister pointed out that the NPP government in the 2024/25 season compensated US$3,100 per tonne against an FOB value of US$4,850 — which amounted to merely 63.9 percent.
He further stated that the current FOB value is derived from a combination of contracts sold at $2,600 per tonne in the 2023/24 crop year and projected forecasts for 2025/2026.
With an average exchange rate of GH¢10.25 to the US dollar, this increase implies that cocoa farmers will now receive GH¢51,660 per tonne or GH¢3,228.75 per 64-kilogram bag of cocoa.
The new price takes effect Thursday, August 7, 2025.