The Ghana Cocoa Board (COCOBOD) has announced an increase in the producer price of cocoa from GH¢41,392 to GH¢42,400 per tonne for the 2026/2027 cocoa season. This new price represents 71.18% of the realised gross free-on-board (FOB) value of cocoa and translates into a producer price of GH¢2,650 per 64kg bag of cocoa. The decision was made after consultations among COCOBOD and other key stakeholders on the producer price and applicable rates and fees for the new cocoa season.
The new price takes effect from Friday, September 25, 2026, and will apply to cocoa purchases made from that date. COCOBOD's Chief Executive Officer, Randy Abbey, announced the revised price at a press conference on Friday. He stated that the producer price of cocoa was increased from GH¢41,392 per tonne to GH¢42,400 per tonne for the 2026/2027 cocoa season, as approved by COCOBOD and other key stakeholders.
According to Randy Abbey, the price could be reviewed if market conditions and other relevant factors warrant such a decision. He mentioned that stakeholders would meet to review the price if necessary, and the review would not be a bonus or any other thing, but a review of the price. This means that any future review could result in either an upward adjustment or the decision to maintain the existing price, depending on the factors considered by stakeholders.
The increase in the producer price of cocoa is expected to benefit cocoa farmers in Ghana. The country's cocoa sector is a significant contributor to Ghana's economy, and the increase in producer price is expected to improve the livelihoods of cocoa farmers. COCOBOD has been working to improve the welfare of cocoa farmers through various initiatives, including the provision of training and support services.
The cocoa sector in Ghana has faced several challenges in recent years, including the impact of climate change and pests and diseases. Despite these challenges, Ghana remains one of the largest producers of cocoa in the world. The increase in producer price is expected to encourage cocoa farmers to increase production and improve quality.
The decision to increase the producer price of cocoa was made after careful consideration of various factors, including market trends and the needs of cocoa farmers. COCOBOD and other stakeholders have been working to ensure that cocoa farmers receive a fair price for their produce. The increase in producer price is expected to have a positive impact on the cocoa sector and the economy as a whole.
The Ghanaian government has been working to support the cocoa sector through various initiatives, including the provision of support services and infrastructure. The increase in producer price is expected to be a boost to the sector and the economy. COCOBOD will continue to work with stakeholders to ensure that the cocoa sector remains a vital part of Ghana's economy.
Key points
- COCOBOD increases cocoa producer price to GHC42,400 per tonne for 2026/2027 season.
- New price represents 71.18% of realised gross free-on-board (FOB) value of cocoa.
- Price increase expected to benefit cocoa farmers and improve livelihoods.
