Ghana set to raise cocoa farmgate price by nearly 45%, sources say

Ghana plans to raise the state-guaranteed price for cocoa farmers by nearly 45% for the 2024/25 crop season to boost incomes and curb bean smuggling.

The new price is expected to be set at 48,000 cedis per ton (3,000 cedis per 64 kg bag), up from the current 33,120 cedis.

This decision, pending cabinet approval, follows a mid-season increase in April.

The price adjustment aligns with similar moves by Ivory Coast, the world’s top cocoa producer.

The change is driven by a global cocoa deficit and aims to stabilize the sector and improve farmers' earnings.

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