The former Head of Public Affairs at Ghana Cocoa Board (COCOBOD), Fiifi Boafo, has called on the NDC government and Finance Minister, Dr Cassiel Ato Forson, to urgently review the producer price of cocoa for the 2025/26 season following the rapid depreciation of the cedi.
On August 7, the government announced a new producer price of $5,040 per tonne for the 2025/26 cocoa season, pegged at an exchange rate of GHC10.25 to the dollar. However, the cedi has since depreciated to GHC12, with projections indicating an average of GHC13 over the cocoa year, a situation Fiifi Boafo says renders the current pricing model outdated.
“Cocoa farmers are receiving only a modest increase of GHC128 per bag when, given current market conditions, they should be earning at least GHC3,780 per bag,” he stressed in a statement dated Tuesday, September 9, 2025.
Mr Boafo recalled that the previous NPP administration responded to similar economic pressures by increasing the producer price from GHC3,000 to GHC3,100 per bag within a month, setting a precedent the current government should follow.
He warned that failure to adjust the price could worsen smuggling activities, destabilise the sector, and further burden farmers whose livelihoods depend on cocoa.
“Cocoa farmers are at the heart of our economy, and we cannot ignore the realities they face. The government must act decisively to protect its welfare and the stability of the cocoa sector,” Boafo said.
He also pointed out the unfulfilled NDC campaign promise of GHC6,000 per bag, describing the current situation as “untenable” and calling on the government to act swiftly to address it.
By: Ekow Annan/newsalertgh.com
