The government has agreed to a big rise in the producer price of cocoa, which will move from US$3,100 to US$5,040 per tonne for the 2025/2026 season.
On Monday, August 4, Finance Minister Dr. Cassiel Ato Forson made the statement on social media. He is the head of the Producer Price Review Committee (PPRC).
Dr Forson said that the new price is a 62.58% rise in US dollars and is in line with President Mahama’s promise to make sure cocoa farmers get 70% of the Free-On-Board (FOB) value.
He said, “Government has, by this decision, increased the producer price significantly, representing 70% of the gross FOB value of $7,200 per tonne.”
The Minister said that the NPP government paid US$3,100 per tonne in the 2024/25 season, which was just 63.9 percent of the FOB value of US$4,850.
He said that the present FOB value is based on a mix of contracts sold for $2,600 per tonne in the 2023/24 crop year and predictions for 2025/2026.
The rise means that cocoa farmers would now get GH¢51,660 per tonne or GH¢3,228.75 for each 64-kilogram bag of cocoa, with an average exchange rate of GH¢10.25 to the US dollar.
The new price will go into effect on Thursday, August 7, 2025.
