BY Nadia Ntiamoah
Ghana’s cocoa farmers are set to receive a revised producer price starting Friday, February 20, 2026, after the government announced adjustments to the 2025/26 cocoa season pricing.
The new price comes amidst ongoing debates over the sector’s management and recent discontent among farmers over earlier mid-season price cuts.
According to a statement, the revised producer price for the remainder of the crop year is set at GH¢41,392 per metric tonne, translating to GH¢2,587 per standard 64kg bag or GH¢1,241.76 per 30kg load of Grade I and II cocoa beans at all buying centres nationwide.
The announcement confirmed that a tonne of cocoa, consisting of 16 bags, will now attract total payments of GH¢41,392.
The revision follows a previous mid-season adjustment in February 2026 that saw the producer price slashed from GH¢3,625 per bag to GH¢2,587 per bag, triggering widespread outrage among farmers, opposition lawmakers, and industry stakeholders.
The reduction, which represented a nearly 30% decrease, was initially justified by the government as a response to declining global cocoa prices and fiscal pressures on the Ghana Cocoa Board (COCOBOD).
In the wake of that cut, tensions escalated, with farmers describing the move as a “devastating blow” to their livelihoods.
Opposition lawmakers from the New Patriotic Party (NPP) accused the ruling National Democratic Congress (NDC) of misleading cocoa farmers during the 2024 campaign with promises of higher prices.
Critics argued that mismanagement of COCOBOD funds and poor planning, rather than solely external market forces, contributed to the sector’s financial difficulties.
The current upward adjustment, while offering some relief, comes after months of uncertainty, protests, and calls from the Minority in Parliament to restore the previous farmgate price of GH¢3,625 per bag.
Lawmakers emphasized that cocoa farmers, who represent over a million households and form the backbone of the foreign exchange earnings, cannot be expected to absorb drastic price cuts without consequences for their livelihoods and rural economies.
Meanwhile the global cocoa prices have experienced significant fluctuations over the past two years. In 2024, prices briefly surged above $10,000 per tonne before correcting downwards due to improved production forecasts and market adjustments.
While the NDC government has cited these external factors as reasons for pricing decisions, critics contend that proper financial planning, hedging, and forward contracts could have mitigated the impact on farmers, as seen during previous administrations.
The revised producer price is expected to apply retroactively to cocoa purchased for the remainder of the 2025/26 season, providing immediate financial relief to purchasing clerks and farmers who were caught in the initial mid-season adjustment.
However, observers caution that trust between COCOBOD, the government, and farmers remains fragile. Questions linger over whether broader reforms, such as faster payment cycles, liquidity management, and strategic hedging, will accompany the new price to ensure long-term stability in the cocoa sector.
COCOBOD has stated that the price revision is part of ongoing efforts to balance payments to farmers with the financial realities of the Board, while also ensuring the sector remains globally competitive.
Yet, many farmers remain cautious, emphasizing that consistency in pricing and transparency in COCOBOD operations are critical to restoring confidence and sustaining the position as the world’s second-largest cocoa producer after Côte d’Ivoire.
