Ghana’s cocoa farmers are set to receive a moderate price increase following the government’s announcement of a new producer price of US$5,040 per tonne for the 2025/2026 cocoa season.
The price increase, which represents a 62.58% increase from the previous US$3,100 per tonne, was approved by the Producer Price Review Committee (PPRC) chaired by the Minister for Finance, Dr. Cassiel Ato Forson.
The new price takes effect from Thursday, August 7, 2025, and fulfils President John Dramani Mahama’s campaign pledge to ensure that cocoa farmers receive 70% of the Free-On-Board (FOB) value of cocoa.
“This increase in the producer price represents 70% of the gross FOB value of US$7,200 per tonne, and aligns with President Mahama’s promise to pay cocoa farmers 70% of the FOB price.”
Minister for Finance, Dr. Cassiel Ato Forson
The Minister emphasized that this adjustment reflects a decisive shift in policy, aiming to better reward the labour of Ghana’s cocoa farmers.
In sharp contrast, he cited that for the 2024/2025 cocoa season under the previous New Patriotic Party (NPP) administration, the producer price was set at US$3,100 per tonne, representing only 63.9% of the FOB value, even though world cocoa market prices were favourable.
Dr. Forson further explained the rationale behind the FOB valuation, asserting that the Gross FOB value was arrived at using outstanding cocoa contracts of about 100,000 tonnes sold at US$2,600 per tonne in the 2023/2024 crop season and an average forecast for the 2025/2026 crop season.
In local currency terms, the increase translates from GHS49,600 per tonne to GHS51,660 per tonne, based on an average exchange rate of GHS10.25 to the US dollar.
This equates to GHS3,228.75 per bag of 64-kilogram gross weight of cocoa, bringing some relief to farmers who have long called for fairer returns for their produce.
Comprehensive Intervention to Boost Cocoa Sector
But the government’s support does not end with improved pricing. In what Dr. Forson described as a “comprehensive intervention” to revitalise Ghana’s cocoa sector, he announced the reintroduction of the free cocoa input supply program.
Beginning in the 2025/2026 crop year, cocoa farmers across the country will receive essential inputs at no cost. These include free cocoa fertilisers—both granular and liquid—free insecticides, fungicides, spraying machines, and flower inducers.
“The Mahama administration is taking a bold step to provide these crucial inputs free of charge to our hardworking farmers. This is not just a gesture of goodwill—it is a strategic investment in higher yields, better incomes, and a more resilient cocoa economy”
Minister for Finance, Dr. Cassiel Ato Forson.
He advised farmers to apply the inputs strictly for cocoa cultivation to ensure maximum impact and productivity. The Finance Minister also used the occasion to unveil a new education initiative designed to support the families of cocoa farmers.
The Cocoa Tertiary Scholarship Scheme, announced as part of President Mahama’s broader social investment strategy, will offer scholarships to children of cocoa farmers who gain admission into accredited tertiary institutions.
“Beginning in the 2025/26 season, COCOBOD will develop modalities to implement the Cocoa Tertiary Scholarship Scheme, which will take effect from the 2026/27 academic year” .
Minister for Finance, Dr. Cassiel Ato Forson.
This initiative, he added, is meant to ensure that the children of farmers who have sustained the nation’s most important cash crop are not left behind in Ghana’s development agenda.
By raising the producer price to match 70% of the FOB value, the Mahama administration is not only meeting a key campaign promise but also sending a strong signal of its intent to put farmers first.
The combination of fairer prices, free agricultural inputs, and expanded access to education for farming families marks a holistic approach to transforming Ghana’s cocoa sector.
The increased producer price and new support initiatives are expected to spark renewed optimism within cocoa-growing communities, many of which have experienced economic stagnation in recent years.
READ ALSO: National Apprenticeship Program Begins August 12 with Over 115,000 Enrolled
