Ghana Government Increases Cocoa Producer Price to GH¢51,660 per Tonne

ACCRA, GHANA – The government of Ghana has announced a new producer price for cocoa, raising it from GH¢49,600 to GH¢51,660 per tonne, effective immediately. This upward adjustment, which is tied to the government’s reference price of $5,040, is set to directly benefit cocoa farmers across the country.

The increase also translates to a new price of GH¢3,228.75 for a 64-kilogram bag of cocoa beans, up from the previous price of GH¢3,100. The decision, reported by Joy Business, aims to ensure that Ghanaian farmers receive a fair share of the global cocoa market price and to improve their livelihoods.

Industry analysts suggest that the new price is a strategic move to boost production and discourage the smuggling of cocoa beans to neighboring countries where prices may have been more attractive. By aligning local prices more closely with international rates, the government hopes to strengthen the cocoa sector, which is a cornerstone of the nation’s economy.

The announcement comes as farmers prepare for the upcoming harvest season, and the new pricing is expected to be a major incentive for increased productivity. Cocoa farming remains a primary source of income for millions of Ghanaians, and this latest price hike is anticipated to be well-received by farmer groups and unions.

The Cocoa Board (COCOBOD) and other stakeholders are expected to release further details on the implementation of the new price and what it means for the sustainability of Ghana’s cocoa industry.