The government has approved a significant increase in the producer price of cocoa, raising it from US$3,100 to US$5,040 per tonne for the upcoming 2025/2026 season.

The announcement was made by Finance Minister Dr Cassiel Ato Forson via a social media post on Monday, August 4, following a meeting of the Producer Price Review Committee (PPRC), which he chairs.

Dr Forson explained that the new price represents a 62.58 per cent increase in US dollar terms and aligns with President Mahama’s pledge to ensure cocoa farmers receive 70 per cent of the Free-On-Board (FOB) value.

“Government has by this decision increased the producer price significantly… representing 70% of the gross FOB value of $7,200 per tonne,” he stated.

Comparing the new policy with that of the previous administration, the Minister noted that the NPP government in the 2024/25 season paid US$3,100 per tonne against an FOB value of US$4,850 — amounting to just 63.9 per cent.

He added that the current FOB value is based on a blend of contracts sold at $2,600 per tonne in the 2023/24 crop year and forward forecasts for 2025/2026.

With an average exchange rate of GH¢10.25 to the US dollar, the increase means cocoa farmers will now receive GH¢51,660 per tonne or GH¢3,228.75 per 64-kilogramme bag of cocoa.

The new price will take effect from Thursday, August 7, 2025.