The Ghana Cocoa Board (COCOBOD) has announced an increase in the producer price of cocoa to GH¢42,400 per tonne for the 2026/27 crop season. This represents a rise from the previous season's price of GH¢41,392 per tonne. The new price is expected to benefit cocoa farmers in Ghana, who are a significant contributor to the country's economy. According to COCOBOD, the price adjustment aims to ensure that farmers receive a fair return on their investment.
The increase in the producer price of cocoa is a welcome news for Ghanaian farmers, who have been advocating for a higher price for their produce. Ghana is the second-largest producer of cocoa in the world, and the crop is a major source of foreign exchange earnings for the country. The COCOBOD's decision to raise the producer price is seen as a move to boost the livelihoods of farmers and their families.
The 2026/27 crop season is expected to commence soon, and farmers are gearing up to increase their production. The COCOBOD has been working to improve the productivity of cocoa farms and provide support to farmers through various initiatives. These initiatives include the provision of fertilizers, pesticides, and other inputs to help farmers improve their yields.
The Bank of Ghana has maintained its policy rate at 14 percent, citing balanced risks to inflation and economic growth. The Monetary Policy Committee assessed the current economic conditions and decided to keep the policy rate unchanged. This decision is expected to have a positive impact on the economy, as it will help to maintain stability and encourage investment.
In a related development, the Bank of Ghana is set to launch a new series of banknotes in November. The new banknotes will feature enhanced security and durability features, aimed at strengthening currency integrity and improving cash management. The introduction of the new banknotes is part of the central bank's efforts to modernize the country's payment systems.
The Ghana National Petroleum Corporation (GNPC) and its upstream subsidiary, GNPC Explorco, have engaged with the Dagbon traditional leadership ahead of planned exploratory drilling in the basin. The engagement was aimed at discussing the potential benefits and challenges associated with the drilling exercise. The traditional leaders have urged the companies to prioritize local employment, environmental protection, and community development.
In other news, Access Bank and Visa have launched a new solution that allows micro, nano, and small merchants across Ghana to accept contactless card payments directly on their smartphones. The solution, known as Visa Accept, is expected to increase financial inclusion and promote digital payments in the country. This development is a significant step towards promoting a cashless economy in Ghana.
Key points
- COCOBOD raises cocoa producer price to GH¢42,400 per tonne for 2026/27 crop season
- Bank of Ghana maintains policy rate at 14 percent
- GNPC and Explorco engage Dagbon leadership ahead of exploratory drilling
