Ghana raises cocoa farmgate price again for 2025/26 season to support farmers
Ghana increases cocoa prices for farmers, marking the second hike this year as supplies rise and global markets watch closely.
GHANA – Ghana, the world’s second-largest cocoa producer, has announced a fresh increase in the fixed farmgate price for cocoa farmers, marking the second adjustment this year.
Finance Minister Cassiel Ato Forson confirmed the new rate at a press briefing in Accra, stating that farmers will now receive 58,000 cedis (US$4,640) per metric ton, up from 51,660 cedis. This translates to 3,625 cedis per 64-kilogram bag, effective today.
Forson explained that the earlier price announced in August was set using projected global cocoa prices and an estimated exchange rate.
“Subsequently, we have seen some changes so it is important for us to review the producer price again,” he noted. Prices are typically adjusted once annually, making the second review unusual.
The revision comes as Ghana’s cocoa deliveries have surged. According to Bloomberg, warehouse arrivals in August more than quadrupled compared to last year, reaching 50,440 metric tons in the four weeks ending September 4.
This sharp increase followed the government’s decision to start the cocoa season in August, two months earlier than usual, to provide farmers with quicker access to cash.
The new farmgate rate represents a 12% increase from the previous figure, with the government earlier raising payments by 4.2% to 3,228.75 cedis (US$261) per bag at the beginning of the 2025/26 season.
The adjustments are expected to reduce incentives for smuggling beans into neighboring countries where farmgate prices are higher.
Global markets are closely monitoring supplies from West Africa after recent years of weak harvests created shortages and pushed cocoa futures in New York to record highs. While analysts forecast a modest global surplus for the 2024/25 season, prices remain significantly above historical averages.
Most cocoa delivered to Ghana’s warehouses is exported, though a share is directed to domestic processors. The country has projected output of 650,000 metric tons for the 2025/26 crop year, up from 600,000 tons harvested in the previous season.
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