Government in Feburary faced heavy backlash particularly from cocoa farmers and the Minority caucus in Parliament after it announced price cuts for light crop purchase price linked to global price fall.

Consequently despite a recent decline in prices on the international market, the Government of Ghana, through the Ghana Cocoa Board (COCOBOD), has announced that the producer price of cocoa will remain unchanged for the 2026 Light Crop Season as official purchasing date for the crop is slated for June 18.

This was formally announced in a formal statement by COCOBOD’s Deputy Chief Executive in charge of Agronomy and Quality Control, Dr. Francis Baah, the Board said the producer price for Grade I and II cocoa beans will be pegged at GH¢41,241.76 per load of 30 kilograms and GH¢2,587.00 per bag of 64 kilograms gross.

The producer price per tonne, equivalent to 16 bags, will also remain unchanged at GH¢41,392.00.

COCOBOD explained that this move is aimed at easing the impact of the falling cocoa price on the inyternational market and to safeguard their incomes ahead of the new light crop season.

“The decision underscores the government’s commitment to protecting the incomes and livelihoods of cocoa farmers, even as international cocoa prices experience a downward trend,” the statement said.

The Board noted that maintaining the current producer price is expected to provide stability and certainty for cocoa farmers as they prepare for the season.

COCOBOD further indicated that the decision has been communicated to key stakeholders across the cocoa value chain, including Licensed Buying Companies (LBCs), management of the Board, relevant government ministries and other industry players to ensure a smooth start to cocoa purchases nationwide.

The announcement is likely to be welcomed by cocoa farmers, many of whom have expressed concerns about the impact of fluctuations in global cocoa prices on their earnings and livelihoods.

Cocoa farmers reaction to price cuts in FebruaryAggrieved cocoa farmers picketed at the headquarters of the Ghana Cocoa Board (COCOBOD) in Accra, on Friday, February 20, over a slash in producer prices and delayed payments, which they say have placed them in economic and financial distress.

With placards bearing inscriptions of government betrayal and chanting slogans, they called on authorities and all stakeholders to protect their livelihoods.

Some of the inscriptions read: “We worked, you lied,” “Government celebrates, but our families mourn,” and “We can’t pay our kids’ school fees,” among others.

The distressed farmers expressed deep concerns through their chants and placards, stating that despite their significant contribution to the economy, their income has been eroded. They warned that unless urgent measures are taken, they may lose their livelihoods, a situation likely to push many farmers away from cocoa farming and potentially affect future production levels which is likely to affect the economy.

Govt settles cocoa farmers In early March, this year the government disbursed an additional GH¢4.2 billion to the Ghana Cocoa Board (COCOBOD) to be passed on to Licensed Buying Companies (LBCs) for onward payment to cocoa farmers who had been owed since November last year.

The move came at a time when some cocoa farmers continued to express discontent over the producer price cuts announced in mid-February.

Speaking in an interview with Citi Business News, the Head of Public Affairs at COCOBOD, Jerome Sam, highlighted his outfit’s commitment to clearing all outstanding debt before the end of the 2025/2026 cocoa season, which was expected to end around August.

“We hoped to complete all payments before the close of the season, which was expected to end around August or September,” he stated.

He further noted that the GH¢4.2 billion had been released by COCOBOD the previous week to the Licensed Buying Companies to facilitate payments to farmers.

He explained that while some farmers had already received payment due to existing financing arrangements between COCOBOD and the LBCs, others were still owed.

Jerome Sam added that COCOBOD remained focused on improving liquidity within the cocoa purchasing system to ensure prompt payments and sustain production across cocoa-growing areas.

“Some of the payments were recent, while others were older. Since 2023, when challenges were experienced with the syndicated loan, Licensed Buying Companies sometimes stepped in to pre-finance cocoa purchases. COCOBOD later reimbursed them for those purchases.

“That is why some farmers were not owed by the LBCs, while others still had outstanding payments. As COCOBOD, we worked tirelessly to ensure that every cedi owed to the Licensed Buying Companies was paid so they could also settle outstanding debts with farmers,” he explained.