The Ghana Cocoa Board (COCOBOD) has announced that it will maintain the current producer price for cocoa, despite recent hikes in neighboring Côte d’Ivoire. The decision follows a comprehensive evaluation of the operational and financial implications for Ghana’s cocoa industry.
In a letter addressed to the Licensed Cocoa Buyers Association of Ghana, Dr. James Kofi Kutsoati, Acting Deputy Chief Executive of Operations at COCOBOD, stated:
“Management will, however, consider the review of producer price, fees, and margins for stakeholders for the 2025/26 cocoa season.”
In September 2024, the Ghanaian government announced a significant 129% increase in the cocoa producer price—from GH¢20,928 to GH¢48,000 per tonne.
The adjustment was aimed at improving the livelihoods of cocoa farmers and curbing challenges such as smuggling and the impact of illegal mining on cocoa farmlands.
A subsequent increase in November brought the price to GH¢49,600 per tonne, reflecting the government’s ongoing commitment to fair farmer compensation amid volatile global cocoa prices.
Meanwhile, Côte d’Ivoire, the world’s leading cocoa producer, implemented a 20% increase in its farmgate price to 1,800 CFA francs (approximately €2.70) per kilogram for the main harvest season from October 2024 to March 2025.
Despite this increment, many Ivorian farmers expressed disappointment, having anticipated a more substantial rise.
The global cocoa market has been marked by intense volatility, with prices soaring to a 50-year high of nearly $12,000 per tonne in late 2024. This unprecedented surge was largely driven by a 14.2% decline in global production during the 2023/24 season, caused by adverse weather, disease, and chronic underinvestment in major producing countries like Ghana and Côte d’Ivoire.
The resulting supply shortages have pushed chocolate prices higher worldwide.
