The government has raised the cocoa producer price from US$3,100 per tonne to US$5,040 per tonne, according to Minister of Finance Dr. Cassiel Ato Forson.
The new price will go into effect on Thursday, August 7, 2025. The finance minister said in a Facebook post that it is instructive to observe that the government has raised the producer price by 62.58% in US dollars as a result of this decision.
Additionally, he stated that this producer price increase is in line with President Mahama’s pledge to pay cocoa farmers 70% of the FOB price, which is equivalent to 70% of the gross Free-On-Board (FOB) value of US$7,200 per tonne.
According to a previous announcement by President John Dramani Mahama, Ghanaian cocoa farmers will receive at least 70% of the current global market price for their produce starting with the upcoming cocoa season. The President said during a grand durbar of Juaboso chiefs and citizens on Tuesday, July 17, 2025:
“Let me be clear: we will honour our promise to pay our hardworking farmers 70 per cent of the world market price of cocoa. The sweat of our cocoa farmers deserves dignity and a fair reward.”
President Mahama described cocoa as “the lifeblood of our rural economy. “Let me be clear: we will honour our promise to pay our hardworking farmers 70 per cent of the world market price of cocoa. The sweat of our cocoa farmers deserves dignity and a fair reward.”
President Mahama emphasised that maintaining farmers’ livelihoods is essential to Ghana’s growth agenda and referred to cocoa as “the lifeblood of our rural economy.”
The Producer Price Review Committee (PPRC) on Cocoa, chaired by the Minister, met and decided on the producer price of cocoa for the 2025–2026 season, which begins on Thursday, August 7, 2025, before the price increase was announced.
The Minister’s statement said it is noteworthy that, despite the world market price at the time being significantly higher, the previous New Patriotic Party (NPP) administration set the FOB value for the 2024–2025 cocoa season at US$4,850 per tonne of cocoa and the producer price at US$3,100, or 63.9% of FOB.
The gross FOB value was calculated using the average forecast for the 2025/2026 crop season and outstanding cocoa contracts totalling approximately 100,000 tonnes sold at US$2,600 per tonne during the 2023/2024 crop season.
The government is happy to announce that the producer price of cocoa has increased from GHS49,600 per tonne to GHS51,660, with an average exchange rate of GHS10.25 to the US dollar for the 2025/2026 crop season.
“This further translates to an amount of GHS3,228.75 per bag of 64-kilogram gross weight of cocoa. Government further announces that this new price takes effect from Thursday, 7th August 2025,” he mentioned.
