The government has increased the share of the world market price given to cocoa farmers from an earlier proposed 60% to 70%, Minister for Food and Agriculture Eric Opoku has announced.
The move is intended to incentivize farmers, boost production, and solidify Ghana’s position as the world’s second-largest cocoa producer.
Mr. Opoku, who had previously highlighted the need to support cocoa farmers in Parliament, reaffirmed this commitment in a Facebook post on Saturday. He expressed concern over the decline in cocoa processing output, noting its impact on the industry.
“Since 2023, CPC’s production has been falling. With a processing capacity of 64,500 tonnes, the company managed only 6,614 tonnes in 2023 and 2,886 tonnes in 2024. This is mainly due to reduced cocoa bean production, affecting supply to processors,” he stated.
To address this challenge, he said the government had decided to exceed the initial proposal and offer farmers 70% of the world market price, a step aimed at revitalizing production and ensuring sustainability in the sector.
Although Ghana remains a leading cocoa producer, most of its beans are exported raw due to limited local processing capacity, raising concerns about lost revenue.
The Minister assured industry players that efforts are underway to strengthen the value chain and maximize returns from cocoa production. This latest adjustment is expected to provide much-needed relief to farmers while fostering long-term growth in the industry.
