The producer price of cocoa has been approved by the government to increase significantly, from US$3,100 to US$5,040 per tonne for the 2025–2026 season.
Finance Minister Dr. Cassiel Ato Forson made the news on social media on Monday, August 4, after the Producer Price Review Committee (PPRC), which he leads, met.
President Mahama promised to guarantee cocoa growers 70% of the Free-On-Board (FOB) value, while Dr. Forson clarified that the new price reflects a 62.58 percent increase in US dollars.
“Government has by this decision increased the producer price significantly, representing 70% of the gross FOB value of $7,200 per tonne,” he reiterated.
The Minister pointed out that the NPP government paid US$3,100 per tonne during the 2024–2025 season, compared to an FOB value of US$4,850, which is just 63.9% of the new policy.
The current FOB value, he continued, is derived from a combination of contracts sold at $2,600 per tonne during the 2023–2024 crop year and projections for 2025–2026.
Due to the rise, cocoa farmers would now get GH¢51,660 per tonne, or GH¢3,228.75 for every 64-kilogram bag of cocoa, with an average conversion rate of GH¢10.25 to the US dollar.
The pricing change will go into effect on Thursday, August 7, 2025.
Source: newsthemegh.com