A former senior staff member of the Ghana Cocoa Board (COCOBOD), Clement Opoku Gyamfi Esq., popularly known as Kwame Opoku CID, has raised concerns over whether the government plans to further reduce cocoa producer prices amid the continued decline in global market rates.
His remarks follow the government’s announcement of a downward review of cocoa producer prices for the remainder of the 2025/2026 crop season.
At a press conference in Accra on Thursday, February 12, 2026, Finance Minister Cassiel Ato Forson stated that the producer price had been reduced to GH¢41,392 per tonne and GH¢2,587 per 64kg bag. The decision, he explained, was driven by a sharp fall in international cocoa prices and liquidity challenges within the cocoa sector.
The 2025/2026 season began in August 2025 with a producer price of GH¢51,660 per tonne, based on 70 percent of a gross free-on-board (FOB) price of $7,200 per tonne, using an exchange rate of GH¢10.25 to one US dollar.
Since then, global cocoa prices have dropped significantly, from around $4,100 per tonne at the time of the initial reduction to below $3,200 per tonne currently. The Finance Minister noted that the adjustment reflects international market realities while attempting to cushion farmers from the full impact of the downturn.
Speaking in an interview on Badwam on Adom TV, Kwame Opoku CID questioned the government’s pricing methodology, asking what calculations informed the previous increase from GH¢3,100 to GH¢3,600 per bag. He argued that miscalculations and poor anticipation of global trends, rather than solely falling world prices, contributed to the current situation.
Kwame Opoku CID also noted that the government missed an opportunity to capitalize on the surge in global cocoa prices in early 2025, which could have protected farmers from the current drastic price reduction.
He further stated that both the COCOBOD Chief Executive Officer and President John Dramani Mahama should be held accountable for the significant drop, recalling earlier government assurances that cocoa prices would rise.
According to him, some farmers reportedly withheld their cocoa beans in expectation of the promised increase, only to face a reduction instead.
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