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 represents a GH¢1,008 increase, or a 2.44% rise. The new price translates to GH¢2,650 per 64kg bag, up from GH¢2,587, an increase of GH¢63. The adjustment was made after consultations with key stakeholders, including the Ministry of Finance, cocoa farmers, licensed buying companies, hauliers, and processors.
The new price took effect on Friday, September 25, 2026, as Ghana officially opened the new cocoa season. COCOBOD Chief Executive Officer Dr. Ransford Abbey announced the new price, stating that it represents 71.18% of the realised gross FOB value. The price increase aims to support cocoa farmers and ensure a stable cocoa sector. Dr. Abbey emphasized that the decision was made collectively with relevant stakeholders.
The increase in cocoa prices is attributed to various factors, including climate-related stress that has accelerated the spread of destructive illnesses among cocoa trees. Weather concerns in major cocoa-producing countries, including Côte d'Ivoire, have also contributed to the price increase. West Africa produces over 60% of the world's cocoa supply, and production drops in the region can cause international futures and market prices to spike.
Côte d'Ivoire, the world's largest cocoa producer, is facing weather concerns, with farmers reporting below-average rainfall in several growing areas. This has raised concerns about the development and quality of the next crop. The global cocoa market is sensitive to demand, weather developments, and production risks in major cocoa-producing countries.
Under local pricing frameworks and board policies, the prices are adjusted to the state-guaranteed producer price paid to local farmers based on international Free-On-Board (FOB) market trends. The COCOBOD board has been implementing sector reforms, including waiving sitting allowances. The new cocoa season's opening and price increase are expected to have a positive impact on Ghana's cocoa sector.
The breakdown of the price increase shows that the previous producer price was GH¢41,392 per tonne, equivalent to GH¢2,587 per 64kg bag. The new price of GH¢42,400 per tonne, or GH¢2,650 per bag, represents a 2.43% increase. The government and stakeholders aim to ensure a stable and profitable cocoa sector for farmers.
The COCOBOD's decision to increase the cocoa producer price aims to support farmers and ensure the sustainability of Ghana's cocoa sector. The sector plays a crucial role in Ghana's economy, and the price increase is expected to have a positive impact on farmers and the overall economy.
Key points
- The COCOBOD has increased the cocoa producer price by GH¢1,008 to GH¢42,400 per tonne for the 2026/2027 season.
- The new price represents 71.18% of the realised gross FOB value.
- The price increase is attributed to climate-related stress and weather concerns in major cocoa-producing countries.
