In 2024, cocoa pricing became one of the most powerful political weapons in Ghana’s election campaign. The National Democratic Congress (NDC), then in opposition, strongly criticized the existing farm-gate price and promised cocoa farmers a bold new deal — GH₵6,500 per bag.
Two years later, the reality looks very different.
On Thursday, February 12, 2026, Finance Minister Dr. Cassiel Ato Forson announced a revised cocoa producer price of GH₵41,392 per tonne, equivalent to GH₵2,587 per bag, effective immediately for the remainder of the 2025/2026 crop season.
For many farmers, the announcement was more than an economic adjustment — it was a moment of political reflection.
The Numbers Behind the Decision
According to Dr. Forson, the Producer Price Review Committee (PPRC) recommended that farmers receive 90% of the achieved gross Free on Board (FOB) price of USD 4,200 per tonne.
The Minister explained that:
Global cocoa prices have declined.
The new price reflects current international market conditions.
The adjustment will inject liquidity into the cocoa sector.
It ensures prompt payment to farmers.
It protects the long-term sustainability of Ghana’s cocoa industry.
In simple terms, the government argues that the revision is market-driven, not politically motivated.
A Promise That Still Echoes
Yet, across cocoa-growing communities, memories of the 2024 campaign remain fresh.
The NDC had argued that farmers were being underpaid and that a fair share of global prices justified a significant increase — up to GH₵6,500 per bag. That promise became symbolic of economic justice for rural producers.
Today, instead of an increase, the price stands at GH₵2,587.
The contrast is striking.
Life in the Cocoa Communities
For farmers in Ashanti, Western North, Bono, and Eastern Regions, cocoa income is not just seasonal revenue — it is survival.
From cocoa proceeds come:
School fees
Farm inputs
Healthcare expenses
Household upkeep
Many farmers already face rising costs of fertilizer, labour, and transportation. While government insists the adjustment reflects global price realities, farmers measure policy not in percentages but in daily living conditions.
The question many are asking is simple: Can GH₵2,587 sustain the cocoa household?
The Global Market Factor
Cocoa pricing in Ghana is tied to international market trends. When global prices rise, producer prices tend to increase. When they fall, adjustments follow.
However, the political dimension complicates the economic explanation. Campaign rhetoric often simplifies global market complexities. Governing, on the other hand, demands alignment with financial realities, debt obligations, and COCOBOD’s fiscal health.
This tension — between political promise and economic constraint — is now fully exposed.
Beyond Politics: The Sustainability Debate
The government maintains that paying 90% of FOB price demonstrates commitment to farmers while ensuring the industry remains viable.
Analysts say sustainability depends on:
Efficient COCOBOD management
Reduced operational waste
Transparent pricing formulas
Stable global demand
If these structural issues are not addressed, periodic price shocks may continue regardless of which party is in power.
A Defining Moment
Cocoa remains one of Ghana’s most strategic exports and a pillar of rural political influence. Decisions affecting cocoa farmers are never merely economic; they are deeply social and political.
The revised price of GH₵2,587 per bag may be economically defensible in global terms. But politically, it reopens questions about campaign expectations, fiscal reality, and trust.
For now, cocoa farmers wait — not just for payment — but for clarity on what the future truly holds for Ghana’s golden crop.
From Campaign Promise to Policy Shock: Cocoa Farmers Caught in the Middle
In 2024, cocoa pricing became one of the most powerful political weapons in Ghana’s election campaign. The National Democratic Congress (NDC), then in opposition, strongly criticized the existing farm-gate price and promised cocoa farmers a bold new deal — GH₵6,500 per bag.
Two years later, the reality looks very different.
On Thursday, February 12, 2026, Finance Minister Dr. Cassiel Ato Forson announced a revised cocoa producer price of GH₵41,392 per tonne, equivalent to GH₵2,587 per bag, effective immediately for the remainder of the 2025/2026 crop season.
For many farmers, the announcement was more than an economic adjustment — it was a moment of political reflection.
The Numbers Behind the Decision
According to Dr. Forson, the Producer Price Review Committee (PPRC) recommended that farmers receive 90% of the achieved gross Free on Board (FOB) price of USD 4,200 per tonne.
The Minister explained that:
Global cocoa prices have declined.
The new price reflects current international market conditions.
The adjustment will inject liquidity into the cocoa sector.
It ensures prompt payment to farmers.
It protects the long-term sustainability of Ghana’s cocoa industry.
In simple terms, the government argues that the revision is market-driven, not politically motivated.
A Promise That Still Echoes
Yet, across cocoa-growing communities, memories of the 2024 campaign remain fresh.
The NDC had argued that farmers were being underpaid and that a fair share of global prices justified a significant increase — up to GH₵6,500 per bag. That promise became symbolic of economic justice for rural producers.
Today, instead of an increase, the price stands at GH₵2,587.
The contrast is striking.
Life in the Cocoa Communities
For farmers in Ashanti, Western North, Bono, and Eastern Regions, cocoa income is not just seasonal revenue — it is survival.
From cocoa proceeds come:
School fees
Farm inputs
Healthcare expenses
Household upkeep
Many farmers already face rising costs of fertilizer, labour, and transportation. While government insists the adjustment reflects global price realities, farmers measure policy not in percentages but in daily living conditions.
The question many are asking is simple: Can GH₵2,587 sustain the cocoa household?
The Global Market Factor
Cocoa pricing in Ghana is tied to international market trends. When global prices rise, producer prices tend to increase. When they fall, adjustments follow.
However, the political dimension complicates the economic explanation. Campaign rhetoric often simplifies global market complexities. Governing, on the other hand, demands alignment with financial realities, debt obligations, and COCOBOD’s fiscal health.
This tension — between political promise and economic constraint — is now fully exposed.
Beyond Politics: The Sustainability Debate
The government maintains that paying 90% of FOB price demonstrates commitment to farmers while ensuring the industry remains viable.
Analysts say sustainability depends on:
Efficient COCOBOD management
Reduced operational waste
Transparent pricing formulas
Stable global demand
If these structural issues are not addressed, periodic price shocks may continue regardless of which party is in power.
A Defining Moment
Cocoa remains one of Ghana’s most strategic exports and a pillar of rural political influence. Decisions affecting cocoa farmers are never merely economic; they are deeply social and political.
The revised price of GH₵2,587 per bag may be economically defensible in global terms. But politically, it reopens questions about campaign expectations, fiscal reality, and trust.
For now, cocoa farmers wait — not just for payment — but for clarity on what the future truly holds for Ghana’s golden crop.
