Ghana has announced a 28 percent cut to farmgate cocoa prices as world market prices for the commodity continue to tumble.
“Effective today, Thursday, 12 February 2026, the new producer price for the remainder of the 2025-2026 crop season will now be 41,392 Ghana cedis per ton and 2,587 Ghana cedis per bag,” announced Dr Cassiel Ato Forson, Ghana’s finance minister.
He noted a significant drop in the world market price of cocoa from an average of $7,200 per ton to below $4,100 per ton, making it untenable to maintain the producer price amidst Ghana Cocoa Board‘s serious financial crisis.
Ghana Cocoa Board, the state-owned cocoa trader, has in recent times been unable to pay producers for their produce, leading to clamours by cocoa farmers and licensed buyers.
The country is said to be holding a huge amount of unsold cocoa beans shunned by buyers due largely to its uncompetitive prices.
“The current situation is largely driven by the unwillingness of buyers to purchase Ghana’s cocoa because it has become uncompetitive and very expensive,” explained Cassiel Ato Forson, Minister of Finance, at a press conference in Accra.
Unlike Ghana, other cocoa producers, including Cote d’Ivoire, are selling cocoa at significantly lower prices, reflecting the prevailing market activity.
The decision, part of a slew of sweeping reforms announced by the Ghanaian government, is hoped to offer respite to the cocoa sector dogged by severe hiccups.
“This measure has become necessary to reflect the reality of the world market price of cocoa, ensure the injection of immediate liquidity for expedited payment of farmers, and guarantee the sustainability of our cocoa sector,” said Dr Forson.
According to the government, farmers will “be paid 90 percent of the achieved gross FOB of 4,200 US dollars per ton to mitigate the adverse impact on the farmer as a result of the fall in the world market price.”
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