In a significant move to bolster the livelihoods of cocoa farmers, the Ministry of Finance Dr. Cassiel Ato Forson’s speech on cocoa price in Ghana 2025 has excited farmers but others have expressed some disappointment.
The 62.58% increase in the producer price of cocoa, raising it to GH₵31,660 per tonne, effective Thursday, August 7, 2025. Signed by Finance Minister Cassiel Ato Forson, the press release highlights the government’s response to rising global cocoa prices, which have averaged $8,400 per tonne in 2025.
[VIDEO] Ato Forson Speech on cocoa price in Ghana 2025
This adjustment reflects a strategic effort to enhance farmer income, with the farmer’s share of the Free on Board (FOB) price climbing to 72.27%, surpassing the 60% benchmark recommended by the International Cocoa Organization. The decision comes as Ghana seeks to maintain its position as a leading cocoa producer while addressing economic pressures.
The price hike, deliberated during the 7th August 2025 meeting, marks a substantial improvement over previous rates, with farmers now receiving an additional GH₵3,228.75 per 64-kilogram bag. This increase is supported by data from a 2023 study in the Journal of Agricultural Economics, which found that higher producer shares in West Africa correlate with increased yield stability and farmer retention.
Government’s Plan to Cushion Cocoa Farmers as Hinted by Dr. Cassiel Ato Forson
The government has also outlined plans to cushion operational costs, retaining a significant portion of the FOB value, while ensuring the policy aligns with international market trends. This move is expected to inject vitality into the cocoa sector, which employs over 800,000 farmers and contributes substantially to Ghana’s economy.
In addition to the price increase, the government has introduced complementary support measures to address long-standing challenges faced by cocoa farmers. A free fertilizer program will be reinstated, alongside initiatives to provide spraying machines, insecticides, and fungicides, aimed at improving productivity amid climate change pressures.
Moreover, the policy considers the aging farmer population, with a nod to pension schemes following a 2024 UN report revealing that 40% of Ghanaian cocoa farmers over 60 live below the poverty line due to inadequate retirement support. These efforts signal a holistic approach to sustaining the industry and ensuring farmer welfare.
The announcement has sparked varied reactions on social media platform X, with some farmers expressing gratitude for the price boost, while others, like @kojocue16, criticize the increment as insufficient, calling it “not up to GH₵200” in real terms.
The government’s commitment to a pension scheme for over 1.5 million farmers, mandated under the 1984 COCOBOD Law, aims to address such concerns, promising a structured retirement benefit system. As Ghana navigates this transition, the success of these initiatives will depend on effective implementation and farmer engagement, with the global cocoa community watching closely as the 2025/2026 season approaches.
