Ghanaian cocoa farmers are renewing calls for the government to guarantee them at least 70% of the Free-On-Board (FOB) price of cocoa—arguing that anything less continues to undervalue their pivotal role in the global cocoa supply chain.
The renewed push follows a recent assurance by President John Dramani Mahama, who, during a Thank You tour in the Ahafo Region on Saturday, pledged a new and significantly improved cocoa producer price to be announced in August 2025.
Speaking to Citi Business News, Stephenson Anane Boateng, President of the Ghana National Cocoa Farmers Association, welcomed the President’s statement but stressed that farmers remain cautious.
“Cocoa farmers are also Ghanaians, and the work we do has a direct impact on the national economy. The Constitution clearly states that farmers should receive 70% of the FOB price. So why do successive governments keep introducing their own pricing formulas?” he questioned.
Ghana is the world’s second-largest cocoa producer, and the price paid to farmers remains a crucial factor in rural livelihoods and long-term investment in cocoa production.
Mr. Boateng also expressed concerns over government-led commercial cocoa farming initiatives, warning that such ventures, if poorly planned, could marginalize smallholder farmers and undermine the sector’s sustainability.
“I don’t see the essence of the government pushing for commercial cocoa farms. Our first leader, Dr. Kwame Nkrumah, established many factories and State Farms—where are they now?” he asked, suggesting that lessons from history be considered before implementing large-scale farming projects.
In November 2024, the previous NPP administration increased the cocoa producer price from GH₵48,000 to GH₵49,600 per tonne—raising the price per 64kg bag from GH₵3,000 to GH₵3,100. Despite this increment, many farmers argue that the current pricing model still falls short of recognizing their true value in the cocoa economy.
Story By: Michael Abayatey
