Former COCOBOD PRO, Fiifi Boafo, has called on government to immediately raise the producer price of cocoa for the 2025/26 season in response to recent economic developments.
In a Facebook post on September 9, he warned that the current producer price does not reflect the realities of the cocoa market and risks worsening the plight of farmers.
“The government must promptly raise the cocoa producer price of cocoa for the 2025/26 season in the light of recent economic developments,” he wrote.
He recalled how the previous NPP administration set a precedent in 2023/24 by revising the producer price upwards from GH¢3,000 to GH¢3,100 per bag a month after a cedi depreciation.
He argued that the current government under Finance Minister Ato Forson should follow this example.
According to Boafo, the $5,040 per tonne producer price announced on August 7, 2025, was pegged at an exchange rate of GH¢10.25 to the dollar.
But he noted that this rate reflected only a single day’s value and failed to project the true market trend over the cocoa year.
“Since that announcement, the cedi has depreciated to GH¢12 to the dollar as of today, and it is projected to average GH¢13 per dollar over the cocoa year,” he stated, stressing the urgent need for adjustment.
Boafo calculated that farmers should currently be receiving at least GH¢3,780 per bag to align with market conditions. Instead, he said, they are only seeing a modest increase of GH¢128 per bag, which he described as untenable.
He further reminded government of its earlier promise of GH¢6,000 per bag, which he said remains unfulfilled.
“To halt smuggling, ensure financial stability, and improve the welfare of our cocoa farmers, the government must act swiftly and decisively,” Fiifi Boafo urged.
“Now is the time to take the necessary steps to support those who significantly contribute to our economy.”