Ghana Maintains Cocoa Prices Amid Global Market Decline to Support Farmers

The Government of Ghana, through the Ghana Cocoa Board (COCOBOD), has announced that the producer price of cocoa will remain unchanged for the 2026 light crop season despite a decline in global cocoa prices.

The decision means cocoa farmers will continue to receive GH¢2,587 per 64-kilogram bag during the 2025/2026 light crop season, providing income stability at a time when international cocoa markets are experiencing a downward correction.

The policy has been welcomed as a strategic move aimed at protecting farmers’ livelihoods and maintaining confidence in Ghana’s cocoa sector, one of the country’s most important economic pillars.

According to Dr. Wisdom Kofi Dogbey, Managing Director of the Cocoa Marketing Company (CMC), the decision demonstrates Ghana’s commitment to supporting farmers while preserving the credibility of the country’s regulated cocoa marketing system.

He explained that Ghana’s cocoa pricing policy should be viewed within the broader context of global and regional cocoa markets. Côte d’Ivoire, the world’s largest cocoa producer, recently reduced its mid-crop farmgate price to 1,200 CFA francs per kilogram, equivalent to approximately GH¢1,513.15 per 64kg bag.

By maintaining its higher producer price, Ghana has created a stronger income cushion for local cocoa farmers during a challenging market period.

Dr. Dogbey noted that the farmgate price plays a critical role in the lives of smallholder farmers, influencing household finances, school fees, labour decisions, farm maintenance, and investments in production.

“The producer price is more than a seasonal announcement. It determines the confidence farmers have in the future of cocoa farming and their willingness to continue investing in their farms,” he said.

He stressed that cocoa remains a global commodity, but its quality and value originate from the work of farmers who cultivate, harvest, ferment, dry, and prepare cocoa beans for export.

As a result, producer-price stability forms an essential part of Ghana’s broader strategy to sustain quality production, protect rural livelihoods, and maintain the country’s reputation as a supplier of premium cocoa.

The Cocoa Marketing Company, which is responsible for marketing Ghana’s cocoa internationally, relies on strong quality assurance systems, traceability, timely delivery, and trusted relationships with buyers. Dr. Dogbey said these strengths are reinforced when farmers have confidence that their efforts are fairly rewarded.

Maintaining the current price for the light crop season provides a bridge between immediate market realities and long-term sustainability, allowing farmers to plan with greater certainty and continue investing in their farms.

However, industry experts caution that price stability alone will not guarantee the future success of Ghana’s cocoa sector.

Dr. Dogbey emphasized the need for broader reforms, including improving productivity, rehabilitating ageing cocoa farms, strengthening disease control measures, increasing access to agricultural inputs, expanding local processing, improving financing options, and enhancing logistics across the cocoa value chain.

He added that the future of Ghana’s cocoa industry should focus not only on increasing production volumes but also on capturing greater value from cocoa processing and exports.

For decades, cocoa-producing countries have primarily supplied raw materials while a larger share of profits has been generated elsewhere through processing and manufacturing. Ghana is therefore seeking to increase local value addition and ensure farmers benefit more directly from the industry’s economic returns.

The government’s decision to maintain cocoa prices is being viewed as an important step toward supporting farmers, preserving sector stability, and advancing a more sustainable and resilient cocoa economy.

Source: Cocoa Marketing Company (CMC)