In a letter to the Licensed Cocoa Buyers’ Association of Ghana (LICOBAG), COCOBOD explained that the decision followed a thorough assessment of the operational and financial implications for the local cocoa industry.

“This decision comes after careful consideration of the operational and financial implications for the cocoa industry,” said Dr. James Kofi Kutoati, Acting Deputy Chief Executive, Operations, in the letter dated April 8, 2025.

The Board said the move aims to preserve stability and long-term sustainability within Ghana’s cocoa sector.

Currently, the cocoa producer price is GH?3,100 per 64kg bag, representing a slight rise of 0.03% from the previous rate set in September for the 2024/2025 crop season.

The adjustment, which translates to GH?49,600 per tonne, is intended to align cocoa prices with current market conditions and provide additional support to Ghanaian cocoa farmers.

While COCOBOD acknowledged Côte d’Ivoire’s price hike, it hinted at a potential review of producer prices, fees, and margins for stakeholders in the 2025/26 season.

The decision comes at a time when both nations, who together produce over 60% of the world’s cocoa, are working to coordinate pricing through their joint Cocoa Initiative to better protect farmers’ incomes.