A new cocoa producer price announced by the government is set to take effect this Friday, marking a significant development for farmers and stakeholders across Ghana’s cocoa sector.
The revised price, which was recently approved by the Producer Price Review Committee (PPRC), is expected to impact thousands of cocoa farmers nationwide as authorities seek to stabilise incomes and strengthen the industry.
Officials say the adjustment reflects prevailing global market conditions and forms part of broader efforts to sustain Ghana’s position as one of the world’s leading cocoa producers. The new rate will apply to all cocoa purchases made from the effective date.
Industry players have welcomed the move, noting that timely price reviews are critical to supporting farmers amid rising production costs and economic pressures. However, some stakeholders are also calling for complementary interventions, including improved access to inputs, enhanced extension services, and measures to curb illegal mining activities that threaten cocoa farms.
The government has urged licensed buying companies (LBCs) to comply strictly with the new pricing directive and ensure smooth implementation across all cocoa-growing regions.
Ghana’s cocoa sector remains a cornerstone of the national economy, providing livelihoods for hundreds of thousands of rural households and contributing significantly to foreign exchange earnings. The implementation of the new producer price is expected to offer renewed optimism to farmers as the season progresses.
