Mr Felix Kwakye Ofosu
Minister of Government Communications, Felix Kwakye Ofosu, has said that the Mahama administration inherited a Ghana Cocoa Board (COCOBOD), which was facing severe systemic challenges.
He said COCODB is saddled with huge debt, debt that was bequeathed to them by the previous administration.
“Cocoa faces challenges because of systemic challenges we inherited, the huge debts we inherited over the last 8 years. more went. We know of the huge areas in cocoa,” he said on the Key Points on TV3 Saturday, October 11, while discussing the new cocoa prices.
For his part, Stevenson Anane Boateng, President of the Ghana National Association of Cocoa Farmers, said that his association is pleased with the new cocoa prices announced by the Finance Minister.
He said that previously, when the government first increased the prices, they wrote a letter registering their displeasure.
Following that, the new prices have been announced, which he said they are satisfied with.
“We are much appreciative of that, we are ok with it; we have written to appreciate it. What we have seen that the government is listening to the concerns we have, “he said on the Key Points on TV3 Saturday, October 11.
The Minister of Finance, Dr Cassiel Ato Forson, announced on Thursday, October 2, that the government has decided to increase the producer price of cocoa to GHS3,625 per bag or GHS58,000 per tonne.
This represents an increase of about GHS400 per bag, equivalent to a 12.27% rise over the price announced in August, he said.
The new price takes effect tomorrow, Friday, 3rd October 2025.
In a post on his X page after addressing the media o, Dr Ato Forson said “Margins, fees, and rates to all other stakeholders, including COCOBOD, remain unchanged.”
He further stated that COCOBOD will continue to implement interventions to support cocoa production and improve the welfare of cocoa farmers.
In particular, he said, COCOBOD will intensify the supply of free cocoa fertilizers (liquid and granular), free insecticides, free spraying machines, free fungicides, and free flower inducers.
“In addition, COCOBOD remains on track to implement the new Tertiary Education Scholarship Scheme for children of cocoa farmers in the 2026/27 academic year,” Dr Forson said.
Government has decided to increase the producer price of cocoa to GHS3,625 per bag or GHS58,000 per tonne.
This represents an increase of about GHS400 per bag, equivalent to a 12.27% rise over the price announced in August.
The new price takes effect tomorrow, Friday, 3rd… pic.twitter.com/2wRrBIdqnv
— Cassiel Ato Forson (PhD) (@Cassielforson) October 2, 2025
Earlier, in August, Dr. Cassiel Ato Forson, announced that the government had increased the producer price of cocoa from US$3,100 per tonne to US$5,040 per tonne.
The new price took effect from Thursday, 7th August 2025.
In a Facebook post, the finance minister said it is instructive to note that the government has, by this decision, increased the producer price significantly by 62.58% in US dollar terms.
He also said this increase in the producer price represents 70% of the gross Free-On-Board (FOB) value of US$7,200 per tonne and aligns with President Mahama’s promise to pay cocoa farmers 70% of the FOB price.
Source:Lovinghananews.com
