- Cocoa price raised 12.3% to GH¢3,625 per bag
- Move aims to boost farmer income and curb smuggling
ACCRA, GHANA – Ghana has raised the producer price of cocoa by 12.27 percent, giving farmers a major income boost and aligning local prices with regional competitors.
Finance Minister Dr. Cassiel Ato Forson announced Thursday that from October 3, 2025, cocoa farmers will receive GH¢3,625 ($288.84) per 64kg bag, up from GH¢3,228.75. The increase – equivalent to GH¢396.25 more per bag – pushes the tonne price to GH¢58,000 ($4,621.51).
“This means every cocoa farmer will now earn GH¢400 more per bag,” Forson said. “After meeting with stakeholders, we are pleased to announce a new producer price, which takes effect from Friday, October 3, 2025.”
The decision by the Producer Price Review Committee, which Forson chairs, marks the second hike since the National Democratic Congress government took office in January 2025. It comes just weeks after neighbouring Côte d’Ivoire announced its own price increase.
Why the swift adjustment matters
Forson said the review was necessary after market conditions shifted since the government’s last price announcement in August. At the time, Ghana pegged cocoa at GH¢3,278.75 per bag ($261.26) or GH¢51,660 per tonne ($5,040).
“Subsequently, we have seen some changes, and we needed to review the price,” Forson told reporters.
The earlier August increase had already represented a historic jump – raising the dollar price from $3,100 to $5,040 per tonne in one move, a 62.6 percent rise. Thursday’s revision builds on that momentum, ensuring Ghanaian farmers remain competitive with counterparts in Côte d’Ivoire, the world’s top cocoa producer.
Farmers, smuggling and investment
The price increase provides a direct income boost for Ghana’s more than 800,000 cocoa farmers, whose livelihoods depend on stable returns from the crop. The government hopes the move will encourage farmers to reinvest in farm maintenance and inputs, strengthening long-term productivity.
It is also designed to tackle the persistent challenge of smuggling. With Ivory Coast paying higher rates, Ghanaian beans – prized for their quality – have frequently been diverted across borders, depriving COCOBOD of crucial volumes. Matching prices is meant to plug that leakage and reassure international buyers.
The announcement underscores the strategic role of cocoa in Ghana’s economy, which accounts for about 20 percent of export earnings and supports millions of livelihoods across the rural sector.
