By Godwill Arthur-Mensah / Elsie Appiah-Osei
Accra, Aug. 05, GNA – The New Patriotic Party Minority Caucus in Parliament has expressed outrage over the recently announced farm gate price of GH₵3,228.75 per 64 kg bag of cocoa, calling it “ridiculous, shameful, and unfair.”
The Caucus argued that the price was too low and did not reflect the current world market price of $8,211.23 per tonne.
Addressing the Parliamentary Press Corps on Tuesday at the Parliament House, Dr Isaac Yaw Opoku, the Ranking Member on Food, Agriculture, and Cocoa Affairs Committee in Parliament, claimed that the government’s calculation was flawed, and the price should be GH₵3,718 per bag based on current market prices and exchange rates.
He questioned the government’s transparency in handling the cocoa industry, particularly regarding revenue generated by Cocobod from cocoa sales in the 2024-2025 season.
Dr Opoku, also the New Patriotic Party (NPP) Member of Parliament (MP) for Offinso South, demanded that Mr Eric Okoku, the Minister for Food and Agriculture, should apologise for his alleged failed promise of GH₵6,000 per bag.
“We urge an immediate review of the price to motivate farmers and prevent issues like galamsey,” he said.
The Caucus also urged the government to protect the livelihoods of cocoa farmers and maintain Ghana’s position in the industry.
“Our concerns highlight the need for fair pricing, transparency, and accountability in the cocoa industry. By addressing these issues, the government can help ensure the well-being of cocoa farmers and the industry’s future,” Dr Opoku stated.
The government has increased the price of cocoa beans paid to cocoa farmers from GH¢49,600 per tonne to GH¢51,660 per tonne, with a target to pursue about 650,000 tonnes for the 2025/2026 cocoa year.
The increment represented GH¢3,228.75 per bag of 64-kilogram gross weight of cocoa.
This was announced by the Minister of Finance, Dr Cassiel Ato Forson, at a press conference in Accra on Monday, August 4, 2025.
He said this increase in the producer price, represented 70 per cent of the gross Free-On-Board (FOB) value of $7,200 per tonne, adding that the increment was coming on the back of a strong Ghana Cedi and declining inflation, reflecting the government’s commitment to improving the livelihoods of our cocoa farmers.
The decision was taken by the Producer Price Review Committee (PPRC), chaired by Dr Forson, the Minister for Finance, ahead of the new cocoa season, which was scheduled to open on Thursday, August 7, 2025.
“It is instructive to note that the government has by this decision increased the producer price significantly by 62.58 per cent in US$ terms,” the minister said.
In comparison, the previous NPP administration set the FOB value at US$4,850 per tonne for the 2024/25 season and the producer price at US$3,100, which represented 63.9 per cent of the FOB-despite better global market prices at the time.
GNA
Edited by Christabel Addo