The Government of Ghana has announced a major upward review of the cocoa producer price for the 2025/2026 season, marking a bold fulfilment of President John Dramani Mahama’s campaign promise to pay cocoa farmers at least 70% of the Free-On-Board (FOB) value.
Following a meeting of the Producer Price Review Committee (PPRC), chaired by the Minister for Agriculture, the new producer price has been set at US$5,040 per tonne, up from the previous US$3,100, representing a 62.58% increase in US dollar terms.
The 2025/2026 cocoa season officially opens on Thursday, August 7, 2025.
According to the Ministry, the revised price reflects 70% of the gross FOB value of US$7,200 per tonne, demonstrating the government’s commitment to rewarding Ghana’s cocoa farmers fairly for their contribution to the economy.
The government highlighted that under the previous NPP administration, the 2024/2025 FOB value was set at US$4,850 per tonne, with farmers receiving US$3,100—63.9% of the FOB value—despite a stronger world market price at the time.
In contrast, the Mahama-led administration used both the average forecast for the 2025/2026 season and an outstanding 100,000 tonnes sold at US$2,600 per tonne from the previous crop year to determine a more favourable pricing structure.
Using an average exchange rate of GHS10.25 to the dollar, the new producer price translates into GHS51,660 per tonne, up from GHS49,600. In practical terms, this means Ghanaian cocoa farmers will now earn GHS3,228.75 per 64-kg bag of cocoa, based on gross weight.
The new pricing regime takes effect immediately from August 7, 2025, just in time for the commencement of the new cocoa season.
The government has touted the move as a critical step toward reviving Ghana’s cocoa industry, empowering rural communities, and ensuring equitable returns for smallholder farmers.
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