Cocoa farmers renew push for 70% share of global cocoa price

Some Ghanaian cocoa farmers are renewing calls for the government to guarantee at least 70% of cocoa’s Free-On-Board (FOB) price as payment to local producers—arguing that anything less continues to undervalue their contribution to the global cocoa supply chain.

The fresh appeal comes on the heels of a promise by President John Dramani Mahama, who, during a Thank You tour in the Ahafo Region on Saturday, announced that a new and significantly improved cocoa producer price will be announced in August 2025.

In an interview with Citi Business News, the President of the Ghana National Cocoa Farmers Association, Stephenson Anane Boateng, said that while the upcoming announcement is welcome, farmers remain cautious.

“Cocoa farmers, we are also Ghanaians, and the work we do also has an impact on the country’s economy. The constitution states it clearly that the FOB price should be considered 70 percent for farmers, so why do successive governments come out with their own projections or proposals?” he said.

Ghana is the world’s second-largest cocoa producer, and the price farmers receive is a critical determinant of rural livelihoods and long-term investment in cocoa farms.

He also urged the government to tread carefully in pursuing large-scale commercial cocoa farming initiatives that lack well-defined long-term strategies. According to him, such ventures risk crowding out smallholder farmers and may not deliver the intended benefits if not properly aligned with the broader goals of the cocoa sector.

“I don’t see the essence of government proposing for commercial cocoa farms. This is because our first leader Dr. Kwame Nkrumah established a lot of factories and State Farms where are they now,” he quizzed.

The previous NPP administration, in November 2024, increased the producer price of cocoa from GH₵48,000 to GH₵49,600 per tonne—translating to a rise in the price per 64kg bag from GH₵3,000 to GH₵3,100.