In a letter dated April 8, 2025, the Ghana Cocoa Board (COCOBOD) announced that it will maintain the previous government’s producer price for cocoa for the 2025/26 season—despite a recent increase in global cocoa prices.
This decision, signed by Dr. James Kofi Kutsoati, Acting Deputy Chief Executive (Operations), was communicated to the Licensed Cocoa Buyers Association of Ghana (LICOBAG), citing the need to ensure stability in Ghana’s current producer price regime.
“This decision comes after careful consideration of the operational and financial implications for the cocoa industry,” said Dr. James Kofi Kutsoati.
The previous government set the cocoa price at ¢3,100/64kg as of November 2024. COCOBOD’s directive ensures that the price for 64kg of cocoa for the 2025/2026 season remains the same as last season’s despite an increase in the pricing of neighbors, Côte d’Ivoire.
“Following the recent announcement of a producer price increase in Côte d’Ivoire, the Management of COCOBOD has decided to maintain Ghana’s current producer price,” Dr. James Kofi Kutsoati hinted.
What Changed
This move comes as a surprise—if not a disappointment—given the new government’s strong campaign promise to increase the producer price of cocoa to at least 70% of the world market price. That pledge, championed by members of the new government was framed as a moral and economic obligation to restore fairness to cocoa farmers, many of whom have long felt short-changed.
But with COCOBOD’s decision now on record, the government has effectively upheld the price structure of its predecessor—a political move that contradicts its rhetoric and exposes the fragile balance between populist promises and economic realities.
Sources within COCOBOD suggest that honoring the 70% promise would have required massive budgetary support or a sharp cutback in other operational areas. Ghana’s cocoa sector, already struggling with debt and smuggling pressures, may simply not have the fiscal room to absorb a price jump without risking liquidity.
But the question remains as to whether —if ever—the 70% target will be met.
