Cocoa Price Rise to GH¢2,650: A Step Forward or a Missed Promise?
Ghana's cocoa farmers will earn GH¢2,650 for a 64-kilogramme bag of cocoa beans in the 2026/2027 season, up from GH¢2,587 previously. The Ghana Cocoa Board (COCOBOD) announced the new producer price on September 25, 2026, representing a GH¢63 increase per bag, or GH¢1,008 per tonne, bringing the total to GH¢42,400 per tonne.
The adjustment comes under the newly enacted Ghana Cocoa Board Act, 2026, which guarantees farmers a minimum of 70 per cent of the realised gross Free-On-Board (FOB) value of cocoa. COCOBOD confirmed the new price represents 71.18 per cent of that value, slightly above the legal threshold.
What does the new cocoa price mean for farmers?
For the average cocoa farmer, the increase translates into modest but real gains. A farmer selling 10 bags of cocoa will now earn GH¢26,500, compared to GH¢25,870 under the previous price. While the rise is welcome, some stakeholders argue it falls short of expectations.
Minority Chief Whip and MP for Nsawam-Adoagyiri, Frank Annoh-Dompreh, took to X to voice his disappointment. He wrote,
“Cocoa new farm gate price: GH¢2650! Now, the 'scales' of deception have been removed. This govt. will contend with us & our cocoa farmers once more!”He further criticised the government's approach, adding,
“The impunity of this government is wild & ugly!”
Why did the cocoa price drop before rising again?
The 2025/2026 season saw significant volatility. Cocoa was initially priced at GH¢51,392 per tonne (GH¢3,228.75 per bag) before being revised downward to GH¢41,392 per tonne (GH¢2,587 per bag) in February 2026. The government cited falling international cocoa prices and liquidity challenges within the sector as reasons for the reduction.
The new season's price of GH¢42,400 per tonne marks a recovery, though it remains below the original 2025/2026 level. COCOBOD CEO Dr Randy Abbey said the price followed extensive consultations with the Ministry of Finance, cocoa farmers, licensed buying companies, hauliers and processors.
What is the government's strategy for the cocoa sector?
The government is implementing a new financing framework aimed at reducing COCOBOD's reliance on traditional international syndicated borrowing. The shift toward domestic financing mechanisms is designed to stabilise the sector and shield it from external shocks.
Beyond pricing, COCOBOD has announced continued productivity programmes, including free fertiliser, hybrid seedlings and disease and pest-control interventions. The Board also confirmed that its cocoa traceability system has been deployed nationwide to meet emerging international market requirements, a move that could strengthen Ghana's position in premium cocoa markets.
Are farmers' concerns being addressed?
Annoh-Dompreh has been engaging cocoa farmers nationwide, collecting concerns about producer prices, payment delays and the long-term sustainability of cocoa farming. He broadened his criticism beyond cocoa, posting,
“Farmers generally have come under 'attack' under this administration: Rice, Maize, Yam, & Cocoa!!!”
The government maintains that the new pricing mechanism protects farmers while ensuring COCOBOD's financial sustainability. The new law also provides a framework for future price adjustments based on market conditions and other variables, offering a degree of flexibility that was previously absent.
What does this mean for Ghana's cocoa future?
Ghana remains the world's second-largest cocoa producer, and the sector supports millions of livelihoods. The new pricing structure, combined with productivity programmes and traceability systems, positions the industry for growth. However, the gap between government assurances and farmer expectations remains a point of tension.
As the 2026/2027 season unfolds, all eyes will be on whether the new framework delivers the stability and prosperity that farmers have been promised. For now, the debate over the