In a pivotal address to the nation's cocoa growers, the National President of the Ghana Cocoa, Coffee and Sheanut Farmers Association (COCOSHE), Alhaji Alhassan Bukari, has called for "collective resilience" following the government's decision to reduce the cocoa producer price.
The adjustment, announced by Finance Minister Dr. Cassiel Ato Forson on February 12, 2026, saw the price drop from GH₵3,625 to GH₵2,587 per 64kg bag—a 28.6% reduction for the remainder of the 2025/2026 season.
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| Alhaji Alhassan Bukari |
"A Global Crisis, Not a Local Choice"
Alhaji Bukari emphasized that the price cut was a "difficult but necessary" response to the volatile international market. After global cocoa prices peaked at nearly $12,000 per tonne in 2024, they have since tumbled to approximately $4,000 to $4,100 per tonne in early 2026.
Competitiveness: The Chief Farmer explained that maintaining the previous high price had made Ghanaian beans "uncompetitive," as international buyers were unwilling to pay a premium far above the prevailing world market rate.
Liquidity & Arrears: He noted that the higher price had led to unsold stocks and delayed payments. The reduction is intended to restore liquidity to COCOBOD, allowing for the immediate repayment of GH₵855 million in arrears owed to farmers.
70% FOB Guarantee: Despite the cut, the new price still guarantees farmers 90% of the achieved gross FOB price—higher than the 70% minimum promised under the new Cocoa Board Bill.
Protests and Political Friction
The appeal for calm comes as tensions rise in the cocoa-growing belts. On Thursday, February 19, 2026, farmers in the Western North Region (including Sefwi Wiawso and Bia West) took to the streets to protest the cut, labeling it a "betrayal".
NPP Minority Stance: The opposition has condemned the mid-season reduction, pointing out that Côte d’Ivoire has managed to maintain a higher price (equivalent to GH₵3,600) despite similar market pressures.
Government Rebuttal: Government spokespersons, including Prof. Ransford Gyampo, have fired back, accusing the previous administration of leaving COCOBOD with an inherited debt exceeding GH₵60 billion, which necessitated these drastic "cleaning" measures.
The Road to Recovery: Reforms and Support
To cushion the impact, the Mahama administration and COCOSHE highlighted several ongoing support measures:
Free Inputs: The continued free distribution of fertilizers, insecticides, and fungicides to reduce the cost of production.
Cocoa Bonds: Replacing the 32-year-old syndicated loan model with domestic cocoa bonds to ensure more stable, year-round financing.
Scholarship Scheme: The launch of a new Tertiary Education Scholarship Scheme for children of cocoa farmers, set for the 2026/2027 academic year.
Value Addition: A mandate to process at least 50% of all beans locally by 2027 to shield farmers from future global price shocks.
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