The Ghana Cocoa Board (COCOBOD) has clarified that Ghanaian cocoa farmers are receiving the highest farmgate price in West Africa, contrary to recent reports suggesting otherwise.
According to an August 2025 report by the Commodity Analysis Team, Ghana's official producer price stands at ₵3,228.75 per 64kg bag, equivalent to ₵51,660 per tonne or US$5,040.00/MT. This is significantly higher than Côte d'Ivoire's producer price of ₵2,553.38 per 64kg bag, equivalent to ₵40,854 per tonne or US$3,886/MT.
The price difference translates to a price advantage of ₵675.38 per bag. Ghanaian farmers earn ₵51.65 (US$5.04) per kilo, while Ivorian farmers earn ₵40.85 (US$3.89) per kilo. For every 64kg bag, Ghanaian farmers take home US$315, compared to US$227 in Côte d'Ivoire. On a tonne basis, Ghanaian cocoa commands US$5,040, compared to US$3,630 in Côte d'Ivoire.
COCOBOD's pricing policy reflects its commitment to ensuring fair and rewarding returns for farmers' hard work. The policy also shields farmers from volatile foreign exchange movements that often distort perceptions of relative pricing. Additionally, maintaining attractive and sustainable farmgate prices within Ghana discourages smuggling.
Implications for Farmers and the Industry
The higher farmgate price in Ghana has significant implications for farmers and the industry. It guarantees better livelihoods for Ghanaian farmers and underscores the country's commitment to safeguarding farmer welfare. The pricing policy also strengthens cocoa sector sustainability and upholds Ghana's leadership in the global cocoa industry.
COCOBOD's Commitment
COCOBOD reaffirms its dedication to ensuring fair returns for farmers, promoting sustainability in the cocoa sector, and maintaining Ghana's position as a global leader in cocoa production. By providing a competitive farmgate price, COCOBOD aims to improve the lives of Ghanaian farmers and contribute to the country's economic growth.
Ghana's cocoa remains the global benchmark for quality, and now, backed by the highest farmgate price in West Africa, it also guarantees better livelihoods for our farmers." - COCOBOD
The higher farmgate price in Ghana is a testament to the country's commitment to supporting its farmers and promoting a sustainable cocoa industry. As the global demand for cocoa continues to grow, Ghana's competitive pricing policy positions the country for continued success in the global cocoa market.
Comments