On Thursday, March 26, 2026, President John Dramani Mahama addressed a viral video in which a cocoa farmer, speaking in Twi, told him, "Mahama, wo de yɛn ka; whatever you do, you owe us" (Mahama, you owe us).
Speaking to the Ghanaian community in Philadelphia, USA, the President acknowledged the farmer's frustration but framed the recent 28.6% cut in cocoa producer prices as a "painful but necessary" move to save the industry from total collapse.
The "Debt" Debate: Why Prices Fell
The farmer’s claim that the government "owes" them stems from the sudden reduction of the producer price from GH¢3,625 to GH¢2,587 per bag on February 12, 2026:
Global Price Collapse: International cocoa prices plummeted from over $10,000 per tonne in 2024 to roughly $4,200 in early 2026.
Liquidity Crisis: COCOBOD faced a GH¢33 billion debt crisis, leaving Licensed Buying Companies (LBCs) unable to pay farmers for over 300,000 tonnes of existing stocks.
The "90% Cushion": Finance Minister Dr. Cassiel Ato Forson clarified that while the price per bag dropped, the government increased the farmers' share of the net FOB price to 90% (up from the statutory 70%) to mitigate the blow.
Mahama’s Direct Response
Addressing the "aggrieved cocoa farmer" directly, President Mahama offered a two-part defense of his administration’s "National Reset" for the sector:
"I Am a Cocoa Farmer Too": Mahama reminded the public that he personally owns 50 acres of cocoa given to him by Nana Kwebu Ewusi. "When the price is reduced by the government, it affects me too... I feel it ourselves," he stated, attempting to show empathy with the rural struggle.
The Raw Bean Trap: He argued that the farmer’s anger is a symptom of a 70-year-old failed model. "The recent incident... should be a wake-up call. We are still exporting raw beans to the world," Mahama said, insisting that only local value addition can protect farmers from global price swings.
The 2026 Cocoa "Reset" Plan
To move beyond administrative price cuts, the President has promised several structural shifts:
| Initiative | Strategy |
| Automatic Pricing | A new mechanism to pay farmers 70% of the world price automatically, adjusted for exchange rates. |
| Domestic Funding | Ending the 30-year reliance on foreign syndicated loans; Ghana will now raise domestic bonds in Cedis to buy cocoa. |
| Processing Goal | Allocating 400,000 tons of beans specifically for local processors rather than using them as collateral for foreign debt. |
"Asking our long-suffering cocoa farmers to carry the nation's burden... reflects a troubling imbalance. Policy must treat farmers as partners, not as shock absorbers." — Critical response to SONA 2026.
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