Gov’t to offer cocoa farmers 70% of the world market price exceeding proposed 60%

In a move to increase cocoa production in Ghana, the Minister for Food and Agriculture, Eric Opoku, has announced that the government will offer cocoa farmers 70% of the world market price for their produce, to exceed the initially proposed 60%.

According to the Minister, the increment is intended to motivate farmers, boost production, and further cement Ghana’s standing as the world’s second largest producer of cocoa.

He said the government is committed to ensuring competitive prices for cocoa farmers while contributing to a statement on the floor of Parliament.

“To address this challenge, I announced the government’s decision to exceed the initial 60 percent proposal and offer cocoa farmers 70 percent of the world market price. This increase is intended to motivate farmers, boost production, and further cement Ghana’s standing as the world’s second largest producer of cocoa.” Hon. Eric Opoku announced it on Facebook.

He lamented the excessive reduction of cocoa bean production, which according to him, has affected supply to the processing company.

“Since 2023, CPC’s production has been on a downward trend. Despite having a processing capacity of 64,500 tonnes, the company produced only 6,614 tonnes in 2023 and 2,886 tonnes in 2024. This decline is largely due to reduced cocoa bean production, which has affected supply to the processing company.” The Minister added.

“On Friday, February 14, 2025, as Ghana marked National Chocolate Day alongside the global celebration of St. Valentine’s Day, I reaffirmed the government’s commitment to ensuring competitive prices for cocoa farmers while contributing to a statement on the floor of Parliament. This initiative aims to incentivize increased production amidst declining output at the Cocoa Processing Company (CPC).” Part of the post read.

Source: Elvisanokyenews.com