The Ranking Member on Parliament’s Agriculture Committee, Dr Isaac Opoku, has taken a swipe at the government for failing to deliver on its 2024 campaign promise to pay cocoa farmers GH₵6,000 per bag of cocoa beans.
Addressing a press conference, Dr. Opoku accused the government of betraying the trust of farmers, noting that the current producer price remains significantly below the promised amount, despite a surge in global cocoa prices.
“What was the motive of the NDC when they insisted, while in opposition, that the then government should have paid cocoa farmers at least GH₵6,000 per bag?” he questioned.
“Would the NDC government now admit they were reckless in their demand for the then government to pay between GH₵6,000 and GH₵7,000 per bag?”
Dr. Opoku argued that even by conservative estimates, the government should have set the price at no less than GH₵3,718 per bag, considering the prevailing international market rates and the current exchange rate.
“In any case, is this figure of GH₵3,228.75 per bag what His Excellency was referring to when he said cocoa farmers would be very happy when the producer price was announced in August?” he asked. “Today, can he honestly tell cocoa farmers whether they are happy or not?”
For the 2024/2025 cocoa season, the government announced a producer price of GH₵3,228.75 per 64kg bag, a figure many farmers have described as disappointing and far below their expectations.
The development has intensified pressure on COCOBOD and the Ministry of Agriculture to address concerns over farmer welfare and ensure a fairer distribution of proceeds from the cocoa trade.
The gross Free on Board (FOB) value for the 2025/2026 season was calculated based on a mix of approximately 100,000 tonnes of outstanding contracts from the 2023/2024 season, sold at US$2,600 per tonne, and market projections for the upcoming season.
At an estimated exchange rate of GH¢10.25 to the US dollar, the new cocoa price translates to GH¢49,600 per tonne, or GH¢3,228.75 per 64-kg bag (gross weight).
