Minister of Finance, Dr. Cassiel Ato Forson, who doubles as the Chairman of the Producer Price Review Committee (PPRC) on Cocoa, has announced a major increase in the producer price of cocoa for the upcoming 2025/2026 season, which officially begins on Thursday, August 7, 2025.
According to Dr. Forson, the government has approved an increase in the producer price from US$3,100 per tonne to US$5,040 per tonne, representing a 62.58% rise in dollar terms.
“This new price reflects 70% of the gross Free-On-Board (FOB) value of US$7,200 per tonne,” he stated, adding that the decision is in line with President John Mahama’s commitment to ensure cocoa farmers receive 70% of the FOB value for their produce.
For comparison, he noted that during the 2024/25 season, the previous NPP administration pegged the FOB at US$4,850 and offered farmers US$3,100 per tonne—only 63.9% of the FOB—despite more favourable global market conditions at the time.
The gross FOB value for the 2025/26 season was calculated using a combination of about 100,000 tonnes of outstanding cocoa contracts sold at US$2,600 per tonne from the 2023/2024 season, as well as the average market forecast 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 GHS51,660 per tonne, or GH¢3,228.75 per 64-kg bag (gross weight).
Dr. Forson emphasised that the revised price structure will take effect on Thursday, August 7, 2025, marking a significant gain for Ghana’s cocoa farmers.
During the ‘Thank you tour of President John Dramani Mahama in Juaboso in the Western North Region, he announced that, beginning with the next cocoa season, Ghanaian cocoa farmers will receive no less than 70 per cent of the prevailing world market price for their produce.
Addressing a grand durbar of chiefs and residents on Tuesday, July 15, 2025, the President declared: “Let me be clear: we will honour our promise to pay our hardworking farmers 70 per cent of the world market price of cocoa. The sweat of our cocoa farmers deserves dignity and a fair reward.”
Key highlights
1. 70 % price guarantee: The new pricing formula will be reflected in the producer price set by the Producer Price Review Committee ahead of the upcoming 2025/26 crop year.
2. President Mahama announced that construction works will commence this quarter on the Juaboso–Asawinso trunk road, along with 120 km of feeder roads that link farming communities to key buying centres.
3. The government will distribute five million hybrid seedlings and scale up fertiliser subsidies to increase yields and maintain Ghana’s position as the world’s leading cocoa producer.
An additional 10,000 young people are being enrolled in the Cocoa Rehabilitation & Youth Entrepreneurship Programme to rejuvenate aged farms and create decent jobs in the sector.
President Mahama described cocoa as “the lifeblood of our rural economy” and emphasised that sustaining farmers’ livelihoods is central to Ghana’s growth agenda.
