Cocoa price cut not illegal - Mahama Ayariga clarifies

Majority Leader Mahama Ayariga has dismissed claims that the recent downward review of cocoa prices breaches the law.

Speaking on the floor of Parliament, he stated categorically that price adjustments, whether upward or downward, are legally permissible and reflect market realities.

He said, “Cocoa prices can be reviewed upwards and can also be reviewed downwards, and when you review them downwards, it’s not illegal. In the same way, when you review them upwards, it’s also not illegal. So the charge that reviewing cocoa prices is illegal is unfounded both in law and in practice.”

“Mr Speaker, the claim that if cocoa beans had been sold forward we would not have faced this crisis is also unfounded because a significant portion of the cocoa was indeed sold forward,” he added.

He further explained that forward sales of cocoa beans, often cited as a safeguard against price volatility, cover only about 70% of annual output, leaving a portion exposed to market fluctuations.

On February 12, 2026, the Minister of Finance, Dr Cassiel Ato Forson, announced a new producer price of GH¢41,392 per tonne (GH¢2,587 per 64kg bag) for the remainder of the 2025/2026 season.

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

This represents a reduction from GH¢51,660 per tonne (GH¢3,625 per bag), following sustained declines in global cocoa prices.

He stated that the revised price is part of broader reforms aimed at stabilising the cocoa sector, boosting value addition, and improving farmer incomes.

The government maintains that despite the downward revision, Ghana remains committed to sustaining its position as a leading cocoa producer and safeguarding the livelihoods of its farmers.

SA/MA

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