The Minority caucus in Parliament has issued a strong rebuke of the government’s recently announced cocoa producer price, alleging that it’s a betrayal of farmers and a manipulation of figures to shortchange them.
On Monday, August 4, 2025, the government unveiled a new farm gate price of GH¢3,228.75 per 64kg bag for the 2025/2026 cocoa season — an increase from GH¢3,100. The new rate equates to GH¢51,660 per tonne or approximately US$5,040 per tonne, based on an average exchange rate of GH¢10.25 to the dollar.
Finance Minister Dr. Cassiel Ato Forson, who chairs the Producer Price Review Committee (PPRC), explained that this new price reflects 70% of the FOB (Free-On-Board) value, benchmarked at US$7,200 per tonne. He emphasized that this represents a 62.58% increase in dollar terms, fulfilling President Mahama’s promise to ensure cocoa farmers receive a fairer share of international market value.
However, Dr. Isaac Yaw Opoku, the Minority’s Ranking Member on Parliament’s Committee on Food, Agriculture and Cocoa Affairs and MP for Offinso South, dismissed the new price as inadequate and below expectations. Speaking at a press briefing, he accused the government of failing to honor its promises to cocoa farmers.
“This new farm gate price is unacceptable and a betrayal of the trust farmers placed in this government. It does not reflect current market realities,” Dr. Opoku stated.
He further pointed out that Ghanaian cocoa farmers are earning less than their counterparts in Ivory Coast, despite the critical role they play in Ghana’s economy. Recalling President Mahama’s campaign pledge that farmers would be “very, very, very happy” with the producer price, Dr. Opoku questioned whether this promise has been kept.
He also challenged the government to explain why the opposition National Democratic Congress (NDC) previously demanded a farm gate price of at least GH¢6,000 per bag, yet now offers nearly half that amount.
The MP accused the government of shifting blame to global market conditions, exchange rates, and inherited financial challenges at COCOBOD, rather than taking responsibility for its own policy decisions and promises.
“What has changed? Didn’t these factors exist when lofty promises were made in 2024?” he asked.
Additionally, Dr. Opoku dismissed claims by Dr. Forson that cocoa inputs such as fertilizers, insecticides, and fungicides are being supplied free to farmers. He argued that these costs are already embedded in the FOB price, meaning farmers are effectively paying for them themselves.
He also called for transparency regarding COCOBOD’s financial health, demanding details of revenue generated in the 2024/2025 season and expenditures, including recent staff transfers.
“If COCOBOD is short of funds, how are they spending millions on transfer grants for employees? How much revenue has been generated from cocoa sales this season? We need answers,” he insisted.
The Minority warned that if the producer price is not reviewed upward, it could further demotivate cocoa farmers, leading to increased land abandonment or farmers leasing their lands to illegal miners.
“We must protect our cocoa industry, honor our farmers, and secure Ghana’s position in the global cocoa market. This deception must end,” Dr. Opoku concluded.
The new cocoa producer price is set to take effect on Thursday, August 7, 2025.
