DEGLORY GH MEDIA

Ghana’s Cocoa Board (COCOBOD) has revealed plans to increase the producer price of cocoa, aiming to surpass the rate currently offered in Côte d’Ivoire. At present, Ghanaian cocoa farmers earn GH₵3,100 for a 64kg bag. However, the Board says a new pricing structure will soon be introduced, ensuring local farmers receive a more attractive rate than their Ivorian counterparts.

This move follows Côte d’Ivoire’s recent decision to raise its farmgate price by 20% to 1,800 CFA francs per kilogram—equivalent to about $3,060 per ton—slightly above Ghana’s current rate of $3,039 per ton.

The new price adjustment is part of Ghana’s broader strategy to discourage cocoa smuggling, which led to a loss of approximately 160,000 tons in the 2023/2024 season. It also aims to revitalize cocoa production, which has been impacted by plant diseases, illegal mining activities, and climate-related challenges.

COCOBOD CEO Dr. Ransford Abbey confirmed that the new cocoa price will be officially announced in August 2025, ahead of the 2025/2026 cocoa season. He emphasized that this move is part of a larger plan to improve farmer welfare and reinforce Ghana’s leadership in the global cocoa industry.