The Ghana Cocoa Board (COCOBOD) has increased the producer price of cocoa from GH¢41,392 to GH¢42,400 per tonne for the 2026/2027 cocoa season, giving cocoa farmers an additional GH¢1,008 per tonne as the country seeks to improve farmer returns and strengthen the financial sustainability of the cocoa sector.
The new producer price, announced by COCOBOD Chief Executive, Dr. Randy Abbey, on Friday, September 25, 2026, represents an increase of approximately 2.4 percent over the previous season’s price. It translates into GH¢2,650 for a 64-kilogramme bag, compared with the previous GH¢2,587, giving farmers an additional GH¢63 per bag.
The new price took effect on September 25, coinciding with the opening of the 2026/27 cocoa season.
‘’The revised producer price represents 71.18 percent of the realised gross Free-On-Board (FOB) value of cocoa. The realised FOB price for the new season has been put at US$2,650 per tonne. ‘’
Dr, Randy Abbey, CEO of COCOBOD
New Pricing Framework from Cocoa Board
The adjustment comes against the backdrop of significant reforms in Ghana’s cocoa industry, particularly the implementation of the Ghana Cocoa Board Act, 2026 (Act 1182).
Under the new framework, cocoa farmers are guaranteed a minimum of 70 percent of the realised gross FOB price. COCOBOD says the new pricing mechanism is intended to provide a stronger link between the price received by farmers and developments in the international cocoa market.
The reform is also part of broader efforts to improve the financial and institutional sustainability of COCOBOD after the sector experienced significant financial pressures and disruptions in cocoa payments during the previous season.
The new law further provides for a revised financing framework for cocoa purchases, greater protection of cocoa farms from illegal small scale mining and increased emphasis on domestic value addition. It also prevents COCOBOD from undertaking quasi-fiscal activities, allowing the institution to focus more directly on its core regulatory and development functions.
Financing Cocoa Purchases
The price announcement comes alongside a major change in how the cocoa sector is expected to finance purchases.
The Ministry of Finance announced on September 26 that Cocoa Capital PLC, a wholly owned subsidiary of COCOBOD, is seeking to raise up to GH¢16.3 billion through a Domestic Cocoa Notes Programme.
Of that amount, GH¢14 billion will be raised through commercial paper to provide short-term liquidity for cocoa purchases during the 2026/27 crop season, while GH¢2.3 billion will be raised through medium- to long-term bonds to refinance existing COCOBOD legacy debt.
The financing programme is intended to provide the liquidity required to purchase cocoa from farmers on time while addressing outstanding financial obligations within the sector.
The Focus on Productivity with the New Producer Price
COCOBOD says the producer price adjustment will be complemented by productivity-enhancement interventions designed to reduce farmers’ production costs and increase yields.
These include the continued provision of free fertiliser, free hybrid cocoa seedlings and the Cocoa Disease and Pest Control Programme. The Board says the measures are expected to improve farm productivity and enhance farmer incomes.
The focus on productivity is significant for Ghana’s cocoa industry because higher farmgate prices alone may not translate into sustained income growth if production and yields remain under pressure.
The cocoa sector has also faced challenges from diseases, weather conditions, financing constraints and illegal activities affecting cocoa-producing communities.
Implications for the Cocoa Value Chain
The new producer price has implications beyond cocoa farmers. Licensed Buying Companies (LBCs), processors, hauliers and other businesses across the cocoa value chain will operate under the new pricing framework for the 2026/27 season.
COCOBOD said the revised price and applicable fees were arrived at following consultations with the Ministry of Finance, cocoa farmers and representatives of the Chamber of Cocoa Marketers, including licensed buying companies, hauliers and processors.
The government is also placing greater emphasis on domestic processing as part of efforts to retain more value within Ghana’s economy. Earlier reforms announced by the Ministry of Finance identified increased local processing as an important component of the cocoa-sector restructuring agenda.
For businesses, increased domestic processing could create opportunities in areas such as cocoa liquor, butter, powder, chocolate and other value-added products, while reducing reliance on exports of raw beans.
Smuggling and Competitiveness
The pricing decision also comes amid concerns about cocoa smuggling and competition for Ghanaian beans in neighbouring markets.
Ghana’s cocoa sector has historically faced challenges when significant price differences emerge between Ghana and neighbouring cocoa-producing countries.
Parliament’s Committee on Food, Agriculture and Cocoa Affairs previously highlighted the need for competitive pricing and stronger measures to address reverse smuggling within the regional cocoa market.
The new pricing mechanism is therefore being introduced not only as a measure to improve farmer returns but also as part of a broader attempt to make Ghana’s cocoa marketing system more responsive to international market conditions.
COCOBOD’s latest adjustment marks another stage in the restructuring of Ghana’s cocoa industry. With farmers receiving GH¢42,400 per tonne and a guaranteed minimum share of 70 percent of realised gross FOB value under the new legal framework, the sector is moving toward a pricing model more closely linked to international cocoa market conditions.
At the same time, the success of the new arrangement will depend on the ability of the sector to secure financing for purchases, maintain timely payments to farmers, improve productivity and expand domestic processing.
For Ghana’s economy, the cocoa sector remains an important source of export earnings and rural livelihoods. The 2026/27 pricing and financing reforms will therefore be closely watched by farmers, buyers, processors, financial institutions and international cocoa market participants as the new season gets underway.
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