Accra: The Ghana Cooperative Cocoa Farmers and Marketing Association Limited (GCCFA) has expressed their 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.
According to Ghana News Agency, the Association raised concerns about the use of US$7,200 as the Free on Board (FOB) price and the use of GHC10.25 as the exchange rate, arguing that these figures do not reflect current market realities and cost structures. The GCCFA called for an immediate review of the pricing model.
A statement by Mr. Issifu Issaka, National President of the GCCFA, acknowledged the government's efforts to align cocoa prices with global market trends and the appreciation of the cedi, which impacted the exchange rate. However, the revised price falls short of cocoa farmers' expectations despite recent reassurances.
The GCCFA's research indicated that 67% of surveyed cocoa farmers believe a fair price would range between GHS 7,000 and GHS10,000 for a 64kg bag of cocoa. Meanwhile, 25% support a price between GHS 4,000 and GHS 6,000, and 8% favor GHS 10,000 or more.
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 GHS 15.5 to $1. This has been adjusted to GHS 3,228.75, approximately $315 at an exchange rate of GHS 10.25 to $1 for the 2025/2026 cocoa season.
The GCCFA asserted that the government should have increased the price to at least 4,000 Ghana cedis to provide relief to cocoa farmers and support the sector. The Association highlighted that in recent years, factors such as labor costs, transportation, inputs, and maintenance costs have significantly increased.
The statement emphasized that the current price is inadequate to support farming activities or motivate youth involvement in cocoa farming, which is crucial for improving overall cocoa output. The current price threatens to undermine cocoa farming and farmer livelihoods due to difficulties in purchasing inputs, tools, machinery, and hiring labor.
The GCCFA also highlighted the limited involvement of youth in cocoa farming due to its perceived unattractiveness, pressures from illegal gold mining activities, and delays in paying salaried employees.
The Association requested its involvement in price-setting discussions, transparent communication, and regular consultations before the announcement of cocoa prices. It suggested that the distribution of inputs should be channeled through the Cooperative Association for timely and effective supply.
The statement called for urgent dialogue between government stakeholders, COCOBOD, and the Cooperative Association to address the challenges and chart a way forward. 'We remain open to collaboration and dialogue to move the cocoa sector ahead,' the statement concluded.