Farmers in Ghana are half-heartedly acclimatizing to new farm-gate cocoa rates despite receiving a 4% annual raise for the 2025-26 season.
The Cocoa Board of Ghana (Cocobod) announced the price at 51,660 cedi ($4,784) a tonne on August 4 amid high expectations.
But the positive welcome soured, as new nominal price of 3,228 cedi ($294.72) per 64 kg falls below producers’ cost net.
By August 19, 2025, a union that represents 300,000 smallholders was threatening to prevent Cocobod from visiting member farms.
The representatives also opined that the state has barely met 70% of the free-on-board (FOB) cost mandate.
Theophilus Tamakloe, VP at the Ghana Co-operative Cocoa Farmers & Marketing Association suggested a FOB-representative rate of 3,800 cedi ($348.46)/64 kg.
These new prices apparently do not absorb a tide of rising input expenses such as fertilizers, which eat into profits.
The double raise also falls short of that in Ivory Coast, the world’s top cocoa bean producer. Here, farmers are getting around 187,283 CFA Francs (3,635 cedi, $331.88) per 64 kg.
Smuggle to Ivory Coast?
With differences widening between producer unions and the government, the threat of smuggling hangs palpably over the sector.
2024’s Best Cocoa Farmer, Kwame Alex, tells local media that Ivory Coast currently betters Ghana by 700 cedis ($63.63)/tonne.
Reports already indicate that growers in Jaman South in the Bono Region of Ghana are already diverting cocoa across the border.
All this is happening despite the current home rate being above the 2024-25 season’s 48,000 Cedi ($3,062) a tonne. Where to next for cocoa farmers in Ghana, producers of the second highest international raw bean volumes? The below statistics offer an extra look at the local pricing history.
Ghana Cocoa Farmers’ Price Statistics
Every start of the season in September, the Cocoa Board of Ghana (Cocobod) provides a contractual producer price. In September 2024, Cocobod tripled the seasonal per-tonne price to 48,000 cedi ($3,062) and the per-64 kg equivalent to 3,000 cedi. Below is a look at the board’s changes in the 2021-25 period.
| Year | Rate Cedi per tonne |
| 2025 | 51,660 ($4,784) |
| 2024 | 48,000 ($3,062) |
| 2023 | 20,943 ($1,382) |
| 2022 | 12,800 ($842.24) |
| 2021 | 10,560 ($670.56) |
How have 64-kg prices changed in Ghana since 2021?
From 2021 through 2025, the Cocobod has been raising the farm-gate rate, starting at 660 cedi ($41.91), per the table below.
| Year | Rate Cedi per 64 kg |
| 2025 | 3,228 ($294.72) |
| 2024 | 2,070 ($131.44) |
| 2023 | 1,308 ($83.19) |
| 2022 | 800 ($50.80) |
| 2021 | 660 ($41.91) |