COCOBOD CEO Ransford Abbey Announces Cocoa Producer Price Increase to GH¢2,650 Per Bag for 2026/2027 Season

The Ghana Cocoa Board (COCOBOD) has officially opened the 2026/2027 cocoa season by announcing a 2.4% increase in the producer price, raising it to GH¢42,400 per tonne. COCOBOD Chief Executive Ransford Abbey confirmed that farmers will now receive GH¢2,650 for a standard 64-kilogram bag of cocoa, an increase of GH¢1,008 per tonne over the previous season's price. This adjustment ensures that farmers receive 71.18% of the realized gross free-on-board (FOB) price, which is currently valued at US$2,650 per tonne. The new pricing regime follows extensive consultations with stakeholders and aligns with the government's commitment to improving the livelihoods of cocoa farmers under the administration of President John Mahama.

This price hike is a direct result of the newly enacted Ghana Cocoa Board Act, 2026, which legally mandates that farmers receive a minimum of 70% of the gross FOB price. To support this new pricing structure and address liquidity challenges, COCOBOD is transitioning toward a new financing framework. The board is introducing the Cocoa Notes Programme to source funding from Ghana’s domestic capital market, a move intended to reduce the industry's historical dependence on expensive international loans. This shift is expected to enhance the financial sustainability of the sector while providing the necessary liquidity to ensure prompt payment to farmers for their produce.

In addition to financial reforms, COCOBOD is prioritizing international market compliance and environmental sustainability. The Ghana Cocoa Traceability System (GCTS) has been implemented to ensure all Ghanaian cocoa meets the European Union’s Deforestation Regulation (EUDR) standards by the December 30, 2026 deadline. This transparency mechanism is critical for maintaining access to premium European markets. To further boost farm yields, COCOBOD will continue its productivity enhancement programs, including the distribution of hybrid seedlings and fertilizers, while maintaining existing rates and fees within the supply chain to protect farmer margins.

Complementing these national policies are regional infrastructure developments and grassroots success stories. In the Bono East Region, the construction of a new Farmer Service Centre in Kintampo under the Feed Ghana Programme is nearing completion. This facility will provide local farmers with access to tractors, dryers, and warehouses, utilizing equipment procured through a bilateral arrangement with Belarus. Such infrastructure, combined with the efforts of groups like the Asetenapa Cocoa Cooperative in Suhum, which utilizes Fairtrade premiums for community projects and education, signals a broader transformation of the agricultural sector toward mechanization, sustainability, and increased profitability for the next generation of farmers.