Ghana Sets Highest Cocoa Farmgate Price in West Africa – COCOBOD Defends Farmers’ Earnings
The Ghana Cocoa Board (COCOBOD) has rejected claims that cocoa farmers in Ghana earn less than their counterparts in Côte d’Ivoire, stressing that Ghana currently offers the highest farmgate price for cocoa in West Africa.
In a statement issued on Wednesday, COCOBOD disclosed that Ghana’s producer price stands at ₵3,228.75 per 64kg bag, equivalent to ₵51,660 per tonne or US$5,040 per metric tonne (MT). In contrast, Côte d’Ivoire farmers receive ₵2,553.38 per bag, or ₵40,854 per tonne (US$3,886/MT). The difference translates into Ghanaian farmers earning ₵675.38 (US$64.16) more per bag and ₵10,806 (US$1,154) more per tonne.
Breaking down the comparison, COCOBOD highlighted that Ghanaian farmers earn ₵51.65 (US$5.04) per kilogramme, while their Ivorian counterparts earn ₵40.85 (US$3.89). On a per-bag basis, Ghanaian farmers make US$315, compared to US$227 in Côte d’Ivoire. The board described any suggestion of parity or disadvantage as “factually inaccurate and misleading.”
COCOBOD explained that the pricing policy not only guarantees fairer returns for Ghanaian farmers but also protects them against exchange rate volatility. It further reduces incentives for smuggling across the Ghana–Côte d’Ivoire border, a persistent challenge for the region’s cocoa sector.
Reaffirming Ghana’s leadership in the global cocoa market, the board noted that the country’s cocoa remains the “benchmark for quality” worldwide. “Now, backed by the highest farmgate price in West Africa, it also guarantees better livelihoods for our farmers,” COCOBOD emphasized.
Source: Citi newsroom