Ghana seeks cocoa competitiveness with new measures
The country's annual farmgate price, previously set at 58,000 cedis per metric ton ($5,300), had made Ghanaian cocoa less competitive internationally, suppressing demand and leaving many farmers unpaid. The new rate is set at 41,392 cedis ($3,580) per metric ton for the remainder of the 2025/26 season, Finance Minister Cassiel Ato Forson said.
"The current situation is largely driven by the unwillingness of buyers to purchase Ghana's cocoa because it has become uncompetitive and very expensive," Forson said.
Payment crisis hits farmers hard
Payment delays have left thousands of farmers struggling to afford food, school fees, and basic farm maintenance. Significant stocks of unsold cocoa beans remained at farms, compounding the crisis.
Forson confirmed that the government has directed market regulator Cocobod to begin immediate repayment of all affected cocoa farmers.
Domestic financing through cocoa bonds
The new financing model relies on domestic cocoa bonds, issued and managed by Cocobod, with repayments tied to sales proceeds within the same crop year. Forson also announced plans for a bill linking farmgate rates to international market prices while guaranteeing a minimum of 70% of the gross Free on Board (FOB) price.
A coalition of cocoa farmers said they would accept lower prices for future deliveries, provided the government clears outstanding arrears first.
Local processing and ndustry goals
Currently, Ghana processes between 30% and 40% of its cocoa beans locally. Forson stated that the country aims to increase this to at least 50% in the 2026/27 season, reviving state-owned CPC to support the expansion.