Accra: The New Patriotic Party Minority Caucus in Parliament has expressed outrage over the recently announced farm gate price of GH?3,228.75 per 64 kg bag of cocoa, calling it 'ridiculous, shameful, and unfair.' The Caucus argued that the price was too low and did not reflect the current world market price of $8,211.23 per tonne.
According to Ghana News Agency, Dr. Isaac Yaw Opoku, the Ranking Member on Food, Agriculture, and Cocoa Affairs Committee in Parliament, addressed the Parliamentary Press Corps on Tuesday at the Parliament House. He claimed that the government's calculation was flawed and suggested that the price should be GH?3,718 per bag based on current market prices and exchange rates. Dr. Opoku questioned the government's transparency in handling the cocoa industry, particularly regarding revenue generated by Cocobod from cocoa sales in the 2024-2025 season.
Dr. Opoku, also the New Patriotic Party (NPP) Member of Parliament (MP) for Offinso South, demanded that Mr. Eric Okoku, the Minister for Food and Agriculture, should apologize for his alleged failed promise of GH?6,000 per bag. "We urge an immediate review of the price to motivate farmers and prevent issues like galamsey," he said. The Caucus also urged the government to protect the livelihoods of cocoa farmers and maintain Ghana's position in the industry.
The government has increased the price of cocoa beans paid to cocoa farmers from GHS49,600 per tonne to GHS51,660 per tonne, with a target to pursue about 650,000 tonnes for the 2025/2026 cocoa year. The increment represented GHS3,228.75 per bag of 64-kilogram gross weight of cocoa. This was announced by the Minister of Finance, Dr. Cassiel Ato Forson, at a press conference in Accra on Monday, August 4, 2025.
Dr. Forson stated that this increase in the producer price represented 70 per cent of the gross Free-On-Board (FOB) value of $7,200 per tonne. He noted that the increment was a result of a strong Ghana Cedi and declining inflation, reflecting the government's commitment to improving the livelihoods of cocoa farmers. The decision was taken by the Producer Price Review Committee (PPRC), chaired by Dr. Forson, the Minister for Finance, ahead of the new cocoa season, which was scheduled to open on Thursday, August 7, 2025.
Dr. Forson highlighted that the government increased the producer price significantly by 62.58 per cent in US$ terms. In comparison, the previous NPP administration set the FOB value at US$4,850 per tonne for the 2024/25 season and the producer price at US$3,100, representing 63.9 per cent of the FOB, despite better global market prices at the time.
