Minority protests government's nearly 30% reduction in cocoa prices

The Minority in Parliament has criticised the government’s decision to reduce the cocoa producer price to GH¢2,587 per 64kg bag, describing it as unfair to farmers.

Speaking to the media on Thursday, February 12, 2026, Dr Isaac Yaw Opoku, Ranking Member of the Food, Agriculture and Cocoa Affairs Committee, said the price cut from GH¢3,625 to GH¢2,587 per bag is unprecedented.

Ghana sets new producer price for remainder of 2025/2026 cocoa season

“This has never happened. Why are we treating cocoa farmers this way? The cocoa farmer has never enjoyed the full benefit of the FOB price. Cocoa farmers have sacrificed for this country,” Dr Opoku said.

He urged the John Dramani Mahama-led government to reconsider its decision and proposed that salaries of public sector workers be reduced proportionally to the drop in cocoa prices.

“If the cocoa farmer’s price is going to be reduced by almost 30 per cent, then everybody’s pay in this country should also be slashed by that margin. Is the Chief Executive Officer of COCOBOD’s salary and allowance going to be reduced by the same margin? Today is a sad day for the country. The president should come again. Cocoa farmers deserve better,” he stated.

The government, citing a sharp fall in global cocoa prices and liquidity pressures within the sector, has set the producer price at GH¢41,392 per tonne and GH¢2,587 per bag for the remainder of the 2025/2026 crop season.

At a press conference in Accra on Thursday, February 12, 2026, Minister of Finance, Dr Cassiel Ato Forson, explained that the adjustment reflects current international market realities, while aiming to protect farmers’ incomes as much as possible.

Cocoa price cut could fuel galamsey – CDM warns

He noted that the 2025/2026 season began in August 2025 with a producer price of GH¢51,660 per tonne, based on 70 per cent of a gross free-on-board price of 7,200 US dollars per tonne, using an exchange rate of 10.25 cedis to the dollar.

JKB/AE

Understanding Ghana's stock market and how to invest | BizTech