Accra: The National Democratic Congress Majority Caucus in Parliament has responded to the New Patriotic Party Minority’s apprehensions about the recent hike in cocoa prices, asserting that the measure is a substantial enhancement to farmers’ livelihoods.
According to Ghana News Agency, the government has unveiled a 62.58 percent rise in the producer price of cocoa for the 2025/2026 season, setting it at $5,040 per tonne. This aligns with President John Mahama’s commitment to remunerate cocoa farmers with 70 percent of the Free-On-Board (FOB) value. Dr. Eric Afful, Chairperson of the Economy, and Development Committee of Parliament, endorsed the government’s decision at a press conference, emphasizing the anticipated positive impact on farmers.
Dr. Afful underscored the government’s dedication to the agricultural sector, stating that the price increase reflects a commitment to ensuring equitable compensation for farmers. He highlighted additional government initiatives supporting cocoa farmers, such as the revival of the free cocoa fertilizer program, a Tertiary Education Scholarship Scheme for farmers’ children, and the introduction of a Cocoa Traceability System to comply with European Union Deforestation Regulations.
He further remarked that the minority’s skepticism is unwarranted, projecting that the price increase will benefit thousands of cocoa farmers across the nation. As the National Democratic Congress (NDC) Member of Parliament for Amenfi West, Dr. Afful called on Ghanaians to rally behind the initiative to strengthen the cocoa industry.
The increase in cocoa prices is expected to elevate farmers’ incomes, enabling investments in fertilizers, pruning tools, pest control, and modernized farming techniques. This is anticipated to result in higher yields and improved cocoa output in the medium to long term.
Conversely, the New Patriotic Party (NPP) Minority Caucus has voiced strong objections to the recently announced farm gate price of GHS3,228.75 per 64 kg bag of cocoa, labeling it as ‘ridiculous,’ ‘absurd,’ ‘shameful,’ and ‘unfair.’ They argue that the price does not align with the current world market price of $8,211.23 per tonne.
Dr. Isaac Yaw Opoku, Ranking Member on the Food, Agriculture, and Cocoa Affairs Committee in Parliament, criticized the government’s calculation method and demanded a revision of the price to GHS3,718 per bag. Dr. Opoku also called for transparency in the cocoa industry’s revenue management and demanded an apology from Mr. Eric Okoku, the Minister for Food and Agriculture, for not fulfilling a previous promise.
The government’s adjustment of cocoa bean prices, from GHS49,600 to GHS51,660 per tonne, was announced by the Minister of Finance, Dr. Cassiel Ato Forson, in Accra. The revised price represents 70 percent of the gross FOB value of $7,200 per tonne, amidst a strengthened Ghana cedi and declining inflation. The Producer Price Review Committee, chaired by Dr. Forson, made the decision ahead of the new cocoa season.
Dr. Forson highlighted that the significant 62.58 percent increase in US dollar terms underscores the government’s commitment to uplifting cocoa farmers’ livelihoods. Comparatively, the previous administration had set the FOB value at US$4,850 per tonne for the 2024/25 season, with the producer price at US$3,100, representing 63.9 percent of the FOB value, despite favorable global market conditions at the time.