Cocoa Farmers Better Off Under New Producer Price – Amenfi West MP Defends 62.58% Increase

The Chairman of Parliament’s Economic and Development Committee and Member of Parliament for Amenfi West, Eric Afful, has defended the government’s newly announced cocoa producer price, stating that cocoa farmers stand to gain significantly under the revised rate.

His remarks come in response to sharp criticism from the Minority in Parliament, who have described the increase as “ridiculous, unfair, and completely unacceptable.”

The government recently set the producer price at US$5,040 per tonne for the 2025/2026 cocoa season, representing a 62.58% jump from the previous rate of US$3,100.

Addressing journalists on Wednesday, August 6, Mr. Afful dismissed the opposition’s claims, arguing that the new rate enhances farmers’ purchasing power, especially when considered alongside a stronger local currency.

“The value of the Cedi has appreciated, so it means that for a bag of cocoa to cost GH¢3,228.75, the farmer can buy more goods and services compared to 2024,” he explained.
“Simply put, the farmer is not worse off — the farmer is better off.”

He pointed to the current exchange rate of GH¢10 to US$1, noting that had the rate depreciated to GH¢16, the government would have had to raise the cedi equivalent to match the dollar-based price, but that would not have yielded better real value for farmers.

Mr. Afful also drew comparisons to the previous administration’s cocoa pricing strategy, indicating that under the 2024/2025 season, farmers received US$3,100 out of a US$4,850 FOB value—equivalent to 63.9%, despite more favourable global cocoa prices at the time.

In contrast, he said, the current government’s price-setting is more transparent and reflective of real market dynamics and foreign exchange conditions.

Government insiders say the new Free-on-Board (FOB) value is based on a combination of 100,000 tonnes of cocoa sold at US$2,600 per tonne during the 2023/2024 season, along with forecasts for the upcoming crop season.

The debate comes amid heightened global advocacy for fair compensation for smallholder farmers, who form the backbone of Ghana’s cocoa economy and continue to face pressure from the growing lure of illegal mining and fluctuating global commodity prices.

As cocoa remains a cornerstone of Ghana’s export revenue and rural livelihoods, both government and opposition stakeholders are expected to keep the issue in the spotlight ahead of the 2026 general elections.