The Government of Ghana has announced a significant increase in cocoa producer prices, offering farmers an additional GH₵400 per 64 kg bag for the 2025/2026 crop season.

At the start of the season, farmers were receiving GH₵3,225 for every bag. With this latest adjustment, they will now earn GH₵3,625 per bag, marking a major boost to farmer incomes.

Government’s Assurance to Farmers

Finance Minister Cassiel Ato Forson, speaking at an emergency press briefing in Accra, emphasised that the upward review was aimed at improving the livelihoods of cocoa farmers.

He noted that the Producer Price Review Committee (PPRC) made the decision after reviewing updated government forecasts.

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“This means that for every bag sold, a cocoa farmer will now take home an additional GH₵400,” the minister explained. He further assured that the government will continue to monitor global cocoa market dynamics and adjust policies in ways that will maximise the benefits for local producers.

Early Start to 2025/26 Cocoa Season

This year, Ghana launched the cocoa season in August—two months earlier than usual—to ensure farmers had quicker access to cash. The move appears to have paid off, as deliveries to licensed warehouses quadrupled compared to the same period last year.

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According to Bloomberg, cocoa arrivals for the four weeks ending September 4 reached 50,440 metric tonnes, compared to just 11,000 tonnes during the same period in 2024.

Global Market Implications

Ghana, the world’s second-largest cocoa producer, recently raised farm-gate prices by 4.2% to GH₵3,228.75 ($261) per bag in the 2025/26 season. Analysts believe the price increase could reduce incentives for cross-border smuggling, a recurring challenge for the sector.

The global cocoa market has faced a severe supply crunch in recent years, with poor harvests driving futures prices to record highs. While a small surplus is projected in the 2024/25 season, prices remain elevated, and market players are closely tracking output from West African producers.

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Cocoa Output Forecast

For the 2025/26 season, Ghana has projected a harvest of 650,000 metric tonnes, up from 600,000 tonnes recorded in the previous crop year. Most of the beans will be exported, although a portion will be allocated to local processing companies.

This upward review of cocoa prices reaffirms the government’s commitment to supporting farmers while safeguarding Ghana’s critical role in the global cocoa supply chain.