Cocoa farmers are eagerly anticipating a major boost in farm gate prices, with expectations for an announcement later this week.

For several days, COCOBOD and other key stakeholders have been engaged in intensive discussions, leading many to hope for a price increase of up to 50 percent.

Currently, a 64 kg bag of cocoa beans is priced at GH₵3,120, a figure that many farmers deem insufficient given the effort and costs associated with production.

The upcoming announcement has given farmers renewed confidence that the government will set a more equitable price.

Nana Oboadie Boateng Bonsu II, President of the Concerned Farmers Association of Ghana, expressed optimism, saying, “We are hopeful for a favorable outcome.

“During our recent engagement with COCOBOD, the CEO assured us of a positive change, and we expect that farmers will have cause to celebrate.

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“We also look forward to seeing the promised interventions for farmers come to fruition. With the new school year beginning, we hope that scholarships and other forms of support for our children will be delivered, facilitating their access to higher education.

"We urge all cocoa farmers to stay calm and patient, as we believe that a favorable announcement is imminent. We await the President’s official declaration with great anticipation.”