The new cocoa producer prices set by the government for the remainder of the 2025/26 cocoa season will take effect from tomorrow, Friday, February 13.

This was confirmed in a statement issued to the Ghana News Agency on Tuesday, which indicated that the new price would apply to all cocoa purchased nationwide.

The statement mentioned that under the revised prices, the producer price to be paid at all buying centres is GH¢1,241.76 per load of 30 kilograms of Grade I and II cocoa beans, naked ex-scale.

It continued that the newly approved price per bag of 64 kilograms gross is GH¢2,587.00, adding that a tonne of cocoa, comprising 16 bags, now attracts a total payment of GH¢41,392.00.

Meanwhile, barely a week ago, COCOBOD announced a salary cut for some staff members and top management as part of efforts to resolve its cash flow challenges.

The announcement was contained in a formal press release issued by the Chief Executive, Dr. Ransford A. Abbey, and dated Monday, February 16.

The release noted that the cuts were to take effect on the same day the announcement was made, explaining that the leaders of the government's cocoa regulating agency would take the reductions for the remainder of the 2025/26 crop year.

According to the statement, “The Executive Management and the Senior Staff of COCOBOD have, effective today, Monday, February 16, 2026, reduced their salaries for the remainder of the 2025/26 crop year in recognition of the current liquidity challenges in the cocoa industry.”

It continued, “The Executive Management has taken a twenty (20) percent cut, while the Senior Staff have taken a ten (10) percent reduction in their respective salaries,” as part of a broader cost-containment measure aimed at aligning expenditure with revenue.

Management indicated that additional steps, “other cost-cutting measures in procurement and a staff rationalisation exercise, are aimed at reducing the overall expenditure of COCOBOD and aligning costs with revenue.”

Meanwhile, the statement did not disclose how much the salary cuts would save the sector or the size of the liquidity gap.

The announcement came at a time of heightened strain in the cocoa industry, marked by rising operational costs, financing pressures, concerns over farmer welfare, and intensified public scrutiny over cocoa pricing and COCOBOD’s financial position.

In recent weeks, the sector has been at the centre of national debate, particularly over producer prices and the sustainability of cocoa farming.

Industry observers have also pointed to the heavy financing burden associated with cocoa purchases, operational commitments, and exposure to global price volatility.

Last year, the Ghana Cocoa Board (COCOBOD) announced that it would not secure any syndicated loan to finance cocoa purchases for the 2025/26 crop season.

According to them, the shortage of cocoa beans at the global level informed such a decision.

“We’re not doing syndication…this year [2025], we’re not doing syndication. What has necessitated us not to do syndication is that we’re experiencing a global shortage of the cocoa bean,” he said.

He made these remarks during an interview with Accra-based radio station Citi FM on Monday, August 4. The Head of Public Affairs at COCOBOD, Jerome Kwaku Sam, explicitly stated that the Board had not sought syndicated financing for the 2024/2025 season and had no intention of doing so this year.

“…To be very honest, last year [2024], we didn’t do syndication, and this year [2025], we’re not doing syndication.”

Mr. Sam further noted that the move also reflects a strategic effort to reduce costs under prevailing market conditions.

“We’re not doing syndication whereby we’re going to incur additional expenses and what have you. That is out of the system or table for now,” he emphasised.

His remarks followed the recent announcement by Finance Minister Dr. Cassiel Ato Forson on a new producer price for cocoa.

The producer price of cocoa for the 2025/2026 season was increased to $5,040 from $3,100, representing a 62.58% increase in dollar terms.

This information was made available by the Finance Minister, Dr. Cassiel Ato Forson, on Monday, August 4. He explained that the decision was made following an engagement with the Producer Price Review Committee (PPRC) on cocoa.

According to the Minister, the adjustment is intended to fulfill the National Democratic Congress (NDC) government’s pledge of setting the fee on the board (FOB) at 70% of the price.

"The Producer Price Review Committee (PPRC) on cocoa, under my chairmanship, met and agreed on the producer price for cocoa for the 2025/2026 season, which opens on Thursday, 7th August 2025. Subsequently, the government is pleased to announce an increase in the producer price of cocoa from $3,100 per tonne to $5,040 per tonne.

"Let me repeat, subsequent to this meeting, the Bank of Ghana is pleased to announce an increase in the producer price of cocoa from $3,100 per tonne to $5,040 per tonne. It is instructive to note that the government has, by this decision, increased the producer price significantly by 62.58% in U.S. dollar terms.

"This increase in the producer price represents 70% of the gross Fee from the Board of $7,200 per tonne and aligns with the NDC's manifesto and President Mahama's promise to pay the cocoa farmer 70% of the FOB price. It is significant to note that for the 2024/2025 crop season, the previous administration set an FOB value of $4,850 per tonne of cocoa and the producer price at $3,100 per tonne, representing 63.9% of the FOB," the minister added.