GCCFA expresses dissatisfaction over new cocoa price

By Edward Dankwah

Accra, Sept 1, GNA – The Ghana Cooperative Cocoa Farmers and Marketing Association Limited (GCCFA) has expressed their deepest dissatisfaction over the newly announced cocoa price for the 2025/2026 cocoa season. 

The price is set at US$5,040 per tonne, translating to GHS 3, 228.75 per 64kg bag.  

The Association said its concern related to the use of US$ 7, 200 as the Free on Board (FOB) price and the use of GHC10.25 as the exchange rate which were not reflective of current market realities and cost structures, therefore calling for immediate review. 

A statement issued by Mr. Issifu Issaka, National President of the GCCFA, acknowledged the government’s efforts to review cocoa prices according to global market trends, as well as the appreciation of the cedi which had influenced the exchange rate.  

“Notwithstanding, the revised price does not fully meet the expectations of cocoa farmers given recent reassurances,” it added. 

It said the GCCFA’s research among members revealed that 67 per cent of cocoa farmers sampled believe a fair price lied between GHS 7,000 and GHS10,000 for a 64kg bag of cocoa, 25 per cent of them believe between GHS 4,000 and GHS 6,000 and 8 per cent support GHS l0,000 or more. 

It said, however, at the time of the announcement, the official market price for the 2024/2025 cocoa season stood at GHS 3,100 per 64 kg, approximately $200 at an exchange rate of GHS15.5 to $1, which had now been adjusted to GHS 3, 228.75, approximately $315 at an exchange rate of GHS10.25 to $1 for the 2025/2026 cocoa season. 

The GCCFA stated unequivocally that government should have at least increased the price to no less than 4,000 Ghana cedis to help give cocoa farmers some relief and improve the sector. 

The statement further indicated that the government should consider that in recent years, labour costs partly due to illegal gold mining activities, transportation, inputs and maintenance costs had tripled. 

It said the current price was however, inadequate to support farming activities or even motivate the youths to go into cocoa farming and improve overall cocoa output. 

The statement said the current price had the tendency to undermine cocoa farming and farmer livelihood as highlighted by cocoa farmers during the participatory research due to difficulty in purchasing of inputs, tools and machinery, and hiring of labour.  

“Also the current prices undermine farming and our livelihoods due to limited finances for household expenses as a result of high cost of living, and high cost and delays in farm maintenance activities like weeding and pruning,” it added. 

“Finally, limited involvement of youth in the cocoa farming because it is perceived unattractive, pressure from ‘galamsey’ operators to buy cocoa farms, and delays in paying salaried employees,” it added. 

The GCCFA requested its involvement in the price-setting discussions, transparent communication and regular consultation before the announcement of cocoa prices. 

The Association also suggested that for the timely and effective supply of inputs, distribution must be channelled through the Cooperative Association for its members. 

The statement said the Government’s agenda to reset the country should be encompassing to include the cocoa sector, therefore, called for an urgent dialogue between government stakeholders, COCOBOD and the Cooperative Association to discuss the challenges outlined above and the way forward.  

“We remain open to collaboration and dialogue to move the cocoa sector ahead,” the statement added. 

GNA 

Edited by Benjamin Mensah