The Ghana Cocoa Board (COCOBOD) says it will announce a higher cocoa price than Côte d’Ivoire’s in August. This move aims to give farmers better earnings as global cocoa prices soar.
Despite financial and operational challenges, COCOBOD remains confident in its ability to raise prices. The current producer price in Ghana is GH₵3,100 per 64kg bag. In April, Côte d’Ivoire set its mid-crop price at 2,200 CFA francs ($3.62 per kg).
Jerome Sam, COCOBOD’s Head of Public Affairs, says farmers should expect more. “We’re losing about $1.4 billion from 333,767 metric tonnes of cocoa due to poor contracts from the past administration. But that’s no excuse not to pay farmers well,” he said.
He stressed the need to motivate farmers to increase productivity. “If Côte d’Ivoire sets a price, we’ll go higher,” he stated. He added that the new board will soon meet to finalize the price, but the direction is clear.
