Ghana raises farmgate cocoa price to GHS3,625 per 64-kg bag amid regional price competition

Ghana’s government has announced a new farmgate price of GHS3,625 per 64-kilogram bag of cocoa, effective Friday, marking the second increase in two months. The adjustment represents a 12.27% rise—around GHS400 per bag—over the August price of GHS3,228.75.

Finance Minister Cassiel Ato Forson revealed the revision on social media, emphasising the importance of cocoa to Ghana’s economy and stressing that the increase is aimed directly at supporting farmers rather than middlemen.

The move comes in response to the Ivory Coast, the world’s largest cocoa producer, which recently raised its own farmgate price by 27% to 2,800 CFA francs per kilogram. Ghana’s adjustment seeks to prevent cross-border smuggling and retain farmer loyalty amid a highly competitive regional market.

COCOBOD will continue supplying fertilisers, insecticides, spraying machines, and other inputs at no cost to farmers, supporting productivity and long-term competitiveness. Additionally, the board plans to launch a tertiary education scholarship program for farmers’ children starting in the 2026/27 academic year, linking cocoa production with broader socio-economic development.

While the price increase will benefit households producing multiple bags per season, questions remain about sustainability if global cocoa prices soften and whether free inputs will effectively boost productivity.

For now, the revision underscores Ghana’s determination to remain competitive in the cocoa market and safeguard farmer welfare in the face of regional and international pressures.