The Concerned Cocoa Farmers Association of Ghana has backed down on its planned protest scheduled for today, Monday August 11, 2025.

Instead, they have chosen to join the nation in mourning the eight officials — including two ministers of state — who tragically lost their lives in last Wednesday’s helicopter crash.

The protest, originally planned to take place at the Cocoa House — headquarters of the Ghana Cocoa Board (COCOBOD) , was to register discontent over the price adjustment from GHS 3,100 to GHS 3,228 per 64kg bag.

According to the farmers, the GHS 128 increase fails to reflect the rising cost of inputs and the economic hardships they face.

Although the group has postponed the demonstration, the association’s president, Nana Oboadie Boateng Bonus, tells Citi Business News that the decision was purely out of respect for the grieving nation.

“Due to the crash that has sent the state into mourning even the demonstration was scheduled for Monday (August 11) has been postponed. And we have been looking forward to authorities to even assure of addressing our concern but nothing has be done,” he said.

He added that :”The demonstration if should go on will send a bad signal about the state but at the end of the day it is a matter of dialogue.”

The Finance Minister, Dr Cassiel Ato Forson, on Monday, August 4, announced the revised cocoa producer price of GHS 51,660 per tonne, equivalent to GHS 3,228.75 per 64kg bag, marking a 62.58% increase in dollar terms—from $3,100 to $5,040 per tonne.

The new price, he explained, represents 70% of the gross Free-On-Board (FOB) value of $7,200 per tonne and aligns with President John Dramani Mahama’s pledge to ensure cocoa farmers receive at least 70% of the international cocoa market price.

The FOB value was arrived at based on 100,000 tonnes of forward contracts sold at an average of $7,600 per tonne during the 2023/2024 season, along with price forecasts for the upcoming season. An exchange rate of GHS 10.25 to the US dollar was used in computing the cedi equivalent of the new price.

According to the Minister, the new farmgate price officially takes effect on Thursday, August 7, 2025.