COCOBOD: Cocoa producer price now linked to global market prices
Deputy CEO of COCOBOD in charge of Finance and Administration, Ato Boateng
The Ghana Cocoa Board (COCOBOD) says it has adopted a new pricing approach that will allow cocoa farmers to benefit more directly from increases in global cocoa prices.
The Deputy CEO of COCOBOD in charge of Finance and Administration, Ato Boateng, said the approach is designed to align producer prices more closely with international market conditions.
Speaking in an interview with Bernard Avle on Channel One TV’s The Point of View on Monday, September 28, 2026, Mr Boateng said cocoa farmers had historically not benefited significantly from increases in global cocoa prices.
“For a very long time, whenever there’s an increase in cocoa price, the farmers historically haven’t had a lot of increase to compensate for the increase in the world cocoa market price,” he said.
He attributed the situation to challenges with COCOBOD’s sales strategy, which he said had since been addressed.
Mr Boateng said COCOBOD presented its revised sales strategy to Cabinet, which supported a pricing approach that would better reflect developments in the international market.
“The Cabinet was of the view that, look, it’s about time we set the price to align with the market. So that when the market goes up, the farmer should benefit,” he said.
He explained that the approach would also ensure that COCOBOD’s finances reflect movements in international cocoa prices.
“And then when the market also comes down, Cocoa Board should not suffer its books,” he added.
Mr Boateng said cocoa prices had risen over the past four to six months, enabling COCOBOD to sell cocoa at higher prices and increase the producer price paid to farmers.
He said the improved sales returns had enabled Ghana to offer farmers a higher producer price than previously and, at the time, a slightly higher price than that offered to farmers in Côte d’Ivoire.
“So really, that is the logic behind the price increase. That’s when there is world market pricing; the farmer should benefit,” he said.
Mr Boateng said the new pricing model would see producer prices move in line with international market conditions.
“So when the market goes down, the price goes down to reflect. And then when the market goes up, the price goes up to reflect the market,” he said.
COCOBOD on September 25, 2026, increased the producer price of cocoa from GH¢41,392 to GH¢42,400 per tonne for the 2026/2027 cocoa season.
The new price, which took effect on September 25, translates into GH¢2,650 per 64-kilogramme bag, representing an increase of GH¢1,008 per tonne over the 2025/2026 season.
Tags: Ato Boateng Deputy CEO farmers Finance and Administration Ghana News
