{"id":21327,"date":"2025-07-14T00:36:54","date_gmt":"2025-07-14T00:36:54","guid":{"rendered":"https:\/\/expressnewsghana.com\/?p=21327"},"modified":"2025-07-14T00:36:54","modified_gmt":"2025-07-14T00:36:54","slug":"mp-for-dormaa-west-debunks-reports-of-cocoa-price-hike-amid-market-realities","status":"publish","type":"post","link":"https:\/\/expressnewsghana.com\/?p=21327","title":{"rendered":"MP for Dormaa West Debunks Reports of Cocoa Price Hike amid Market Realities"},"content":{"rendered":"

Hon. Vincent Oppong Asamoah, Member of Parliament for Dormaa West and cocoa farmer, has categorically refuted recent claims that Ghana\u2019s government has refused to introduce a new, higher producer price for cocoa as against its counterpart in Ivory Coast<\/strong><\/p>\n

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.<\/p>\n

The current producer price remains at GH\u20b53,100 per 64\u202fkg bag (\u202fGH\u20b549,600 per tonne) for the 2025\/26 season unchanged since its April announcement despite a recent price increase in neighbouring C\u00f4te d\u2019Ivoire.<\/p>\n

C\u00f4te d\u2019Ivoire set its 2024\/25 mid\u2011crop price at 1,800\u202fCFA francs\/kg (\u2248US\u202f$3.62\/kg, or $3,620\/tonne).<\/p>\n

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

\u201cHistorically, new farm-gate prices are released at the end of the mid\u2011crop season, around September\u2013October. Any suggestion to the contrary is misleading,\u201d he said.<\/p>\n

Border Monitoring Ghana\u2019s Pricing Committee closely watches producer prices in C\u00f4te d\u2019Ivoire, Togo, and Burkina Faso to prevent arbitrage and smuggling.<\/p>\n

Last season, cocoa was smuggled to Togo at GH\u20b57,000 per bag where prices were more attractive.<\/p>\n

This, the Dormaa MP said the previous administration sold approximately 300,000\u202ftonnes of cocoa ahead of time at low prices (under US\u202f$3,000\/tonne), creating a burden that the current administration must account for when calculating new prices.<\/p>\n

A straightforward price increase cannot be implemented without accommodating these carry-over commitments.<\/p>\n

\"\"<\/p>\n

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

The Ghana Cocoa Board (COCOBOD) has pledged to set the next price higher than C\u00f4te d\u2019Ivoire\u2019s. While international prices hover near $9,000\/tonne, COCOBOD aims to ensure producers benefit once legacy issues are ironed out.<\/p>\n

Mr Asamoah said the government through the COCOBOD will set a new price at the end of the mid\u2011crop season, after factoring in regional benchmarks, outstanding forward-sales obligations, and global market trends.<\/p>\n

The government, he said remains confident it will maintain a higher producer price than C\u00f4te d\u2019Ivoire when the next price is released, owing to its premium cocoa status and quality standards.<\/p>\n

Hon. Oppong Asamoah advised farmers to “wait patiently” and focus on production quality.<\/p>\n

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.<\/p>\n

 <\/p>\n

 <\/p>\n

Source: Felix Nyaaba\/expressnewsghana.com<\/strong><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Hon. Vincent Oppong Asamoah, Member of Parliament for Dormaa West and cocoa farmer, has categorically refuted recent claims that Ghana\u2019s government has refused to introduce […]<\/p>\n","protected":false},"author":1,"featured_media":21328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-21327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"\nMP for Dormaa West Debunks Reports of Cocoa Price Hike amid Market Realities - Express News Ghana<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/expressnewsghana.com\/?p=21327\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MP for Dormaa West Debunks Reports of Cocoa Price Hike amid Market Realities - Express News Ghana\" \/>\n<meta property=\"og:description\" content=\"Hon. 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