Ghana has reduced its farmgate cocoa price for farmers, aligning it with international market levels to stimulate demand and address payment delays. The new price for the 2025/2026 season is set at 41,392 cedis ($3,580) per metric ton, down from 58,000 cedis ($5,300).
Finance Minister Cassiel Ato Forson said the adjustment was necessary due to falling global cocoa demand, which has halved international prices over the past year to around $4,000 per metric ton. The previous high farmgate price had made Ghanaian cocoa uncompetitive, leaving farmers with unsold stocks and delayed payments.
To ensure timely compensation, the government is introducing a new financing model based on domestic cocoa bonds, managed by market regulator Cocobod, with repayments tied to sales proceeds within the same crop year. Forson also announced plans to present a bill to parliament linking farmgate prices to international markets while guaranteeing a minimum of 70% of the gross Free on Board (FOB) price.
Farmers have expressed willingness to accept lower future prices, provided the government clears arrears for previously delivered beans.
Ghana currently processes 30–40% of its cocoa locally and aims to increase that to at least 50% in the 2026/2027 season. Efforts will include reviving the state-owned Cocoa Processing Company (CPC) to support domestic value addition.
