Cocoa Farmers Now Receive 71.18% of World Market Price as Producer Price Rises to GH¢2,650 Per Bag

The Head of Public Affairs at the Ghana Cocoa Board (COCOBOD), Jerome K. Sam, has defended the adjustment of Ghana’s cocoa producer price, stressing that the government remains committed to improving the welfare of cocoa farmers despite fluctuations on the international market.

Speaking on the new cocoa price at Kessben Maakye show in Accra, Sam said farmers are currently receiving about 71.18% amounting to Ghc 2,650, of the world market price, with portions of the remaining proceeds going to buyers and other industry-related commitments.

According to him, cocoa farmers were consulted and involved in discussions leading to the determination of the new producer price. He noted that while the government would be pleased to pay farmers as much as they demand, cocoa pricing is also influenced by prevailing international market conditions.

He further highlighted the government’s support for farmers, including the restoration of free fertilizer distribution, agrochemicals and spraying equipment, among other interventions aimed at reducing production costs and improving yields.

Sam said the cocoa sector has contributed significantly to Ghana’s economy over the years, making the welfare of farmers a major concern for the government.
He also explained that international cocoa prices fluctuate frequently, sometimes within hours, making it necessary to adopt strategies that protect farmers from sudden market shocks. According to him, the Free-On-Board (FOB) pricing arrangement is intended to help stabilize returns and secure a reasonable producer price.

Addressing comparisons with neighbouring Côte d’Ivoire, Sam said the difference in producer prices is approximately GH¢1,100 to the benefit of Ghanaian farmers, adding that Ghana’s pricing and support measures should be considered alongside the benefits provided to farmers.

He further disclosed that the government is strategically planning cocoa sales rather than selling the country’s entire projected crop at once, with the aim of securing better value for farmers. In lieu of this, he acknowledged the farmers collaborations and excitement based on the fact that the government has given then respect by involving then in critical decision making concerning the cocoa sector.

Sam also responded to criticism from the Minority, New Patriotic Party (NPP) over the producer price, saying COCOBOD remains committed to engaging farmers and consulting them on key decisions affecting cocoa production and marketing.