MP for Dormaa West Debunks Reports of Cocoa Price Hike amid Market Realities

Hon. Vincent Oppong Asamoah, Member of Parliament for Dormaa West and cocoa farmer, has categorically refuted recent claims that Ghana’s government has refused to introduce a new, higher producer price for cocoa as against its counterpart in Ivory Coast

Speaking to Journalists in Parliament following a questioned posed to the Minister for Food and Agriculture, Hon Asamoah described the rumour as “mischievous” and premature, emphasizing the importance of strong cross-border market intelligence and careful price-setting.

The current producer price remains at GH₵3,100 per 64 kg bag ( GH₵49,600 per tonne) for the 2025/26 season unchanged since its April announcement despite a recent price increase in neighbouring Côte d’Ivoire.

Côte d’Ivoire set its 2024/25 mid‑crop price at 1,800 CFA francs/kg (≈US $3.62/kg, or $3,620/tonne).

As a result, Mr. Asamoah said there has never been an early-season price announcement just before the main crop begins.

“Historically, new farm-gate prices are released at the end of the mid‑crop season, around September–October. Any suggestion to the contrary is misleading,” he said.

Border Monitoring Ghana’s Pricing Committee closely watches producer prices in Côte d’Ivoire, Togo, and Burkina Faso to prevent arbitrage and smuggling.

Last season, cocoa was smuggled to Togo at GH₵7,000 per bag where prices were more attractive.

This, the Dormaa MP said the previous administration sold approximately 300,000 tonnes of cocoa ahead of time at low prices (under US $3,000/tonne), creating a burden that the current administration must account for when calculating new prices.

A straightforward price increase cannot be implemented without accommodating these carry-over commitments.

Quality Premium Advantage Ghanaian cocoa continues to command a premium due to stringent quality controls and centralized procurement, distinguishing it from its regional counterparts.

The Ghana Cocoa Board (COCOBOD) has pledged to set the next price higher than Côte d’Ivoire’s. While international prices hover near $9,000/tonne, COCOBOD aims to ensure producers benefit once legacy issues are ironed out.

Mr Asamoah said the government through the COCOBOD will set a new price at the end of the mid‑crop season, after factoring in regional benchmarks, outstanding forward-sales obligations, and global market trends.

The government, he said remains confident it will maintain a higher producer price than Côte d’Ivoire when the next price is released, owing to its premium cocoa status and quality standards.

Hon. Oppong Asamoah advised farmers to “wait patiently” and focus on production quality.

He promised that the government, under current leadership, will deliver a fair and competitive price that discourages smuggling and uplifts farmers and the youth in cocoa-growing communities.

Source: Felix Nyaaba/expressnewsghana.com