We are okay with the new cocoa price – Farmers association

The Ghana National Association of Cocoa Farmers has welcomed the newly announced cocoa price, describing it as fair and a sign that the government is listening to their concerns.

Speaking in an interview, the President of the Association, Stevenson Anane Boateng, confirmed that the group has written a formal letter to express their appreciation for the new price adjustment.

This comes after a previous price increase, which the association criticized for not meeting expectations.

“We are much appreciative of that, we are okay with it; we have written to appreciate it. What we have seen is that the government is listening to the concerns we have,” Mr. Anane Boateng said.

The Finance Minister, Dr. Cassiel Ato Forson, announced the revised price on Thursday, October 2. The new producer price is set at GHS3,625 per bag, or GHS58,000 per tonne, reflecting a 12.27 percent increase from the rate introduced in August.

This change will take effect on Friday, October 3, 2025.

Dr. Forson assured stakeholders that all margins and rates remain unchanged. He also highlighted ongoing support from COCOBOD, including free fertilizers, insecticides, spraying machines, and other essential farm inputs. Additionally, he reaffirmed that a tertiary education scholarship scheme for the children of cocoa farmers will begin in the 2026/27 academic year.

In August, the government had raised the dollar-denominated price from US$3,100 to US$5,040 per tonne, representing a 62.58 percent increase.

The latest pricing aligns with the administration’s commitment to pay farmers 70 percent of the gross Free-On-Board value.