Cocoa Farmers Demand 70% of FOB Price Amid Mahama’s Promise of New Rates in August
AHAFO REGION – June 2, 2025 — Ghanaian cocoa farmers are calling on the government to guarantee at least 70% of the Free-On-Board (FOB) price of cocoa as payment to local producers, describing anything less as a continued undervaluation of their critical role in the global cocoa supply chain.
The renewed appeal follows a recent announcement by President John Dramani Mahama during his Thank You Tour in the Ahafo Region. Mahama disclosed that his administration will unveil a significantly improved cocoa producer price in August 2025, raising farmers’ expectations.
In an interview with Citi Business News, Stephenson Anane Boateng, President of the Ghana National Cocoa Farmers Association, welcomed the announcement but urged caution and constitutional compliance.
“Cocoa farmers, we are also Ghanaians, and the work we do also has an impact on the country’s economy. The constitution states it clearly that the FOB price should be considered 70 percent for farmers, so why do successive governments come out with their own projections or proposals?” he questioned.
Ghana is the second-largest cocoa producer in the world, and the price paid to farmers remains a crucial factor in rural livelihoods, youth retention in agriculture, and sustainable cocoa production.
Concerns Over Commercial Farming Strategy
Mr. Boateng also cautioned the government against rushing into large-scale commercial cocoa farming ventures without a clear long-term strategy, warning that such initiatives could displace smallholder farmers, who form the backbone of the sector.
“I don’t see the essence of government proposing for commercial cocoa farms. This is because our first leader, Dr. Kwame Nkrumah, established a lot of factories and State Farms—where are they now?” he asked.
Background
The last increase in the cocoa producer price occurred under the NPP administration in November 2024, which raised the rate from GH₵48,000 to GH₵49,600 per tonne, equating to GH₵3,100 per 64kg bag.
Farmers say the anticipated August adjustment must reflect global market realities and provide fair compensation in line with international benchmarks.
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