Ghana has announced a new cocoa farm-gate price of $5,000 per tonne for the 2026/2027 season, the highest ever in West Africa.
President John Mahama, who returned to office in 2025, announced the increase on Monday in Accra, saying Ghanaian farmers deserve fair value for feeding the world's chocolate industry.
Ghana and Ivory Coast produce 60 percent of the world's cocoa, but farmers have long lived in poverty. The previous price was $3,100 per tonne. The 61 percent increase is funded by higher global cocoa prices, which hit $9,000 per tonne in 2024 due to climate shocks.
Over 800,000 cocoa farmers in Ashanti, Western and Eastern regions will benefit. The Cocoa Board (COCOBOD) will also provide free fertilisers, improved seedlings and anti-smuggling patrols.
Farmers in Kumasi celebrated, saying the increase will allow them to keep children in school and repair farms affected by disease. Ghana earns $3 billion yearly from cocoa exports.
Experts warn that smuggling to Ivory Coast may increase if Ivory Coast does not match price. COCOBOD says it has deployed military to borders.
Ghana also plans to process 50 percent of its cocoa locally by 2028, building chocolate factories in Tema to create jobs.
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