COCOBOD refutes new price rumors, cites institutional gaps as price remains unchanged
In recent days, conflicting media reports have circulated regarding a potential change in Ghana’s cocoa producer price. Amid the speculation, COCOBOD has issued a strong refutation, clarifying that no new price has been set for the 2025/2026 season, citing critical gaps in institutional governance.
On April 10, 2025, COCOBOD released an official public statement to counter rumors claiming that a revised cocoa producer price was imminent. The Board emphatically stated that:
“Without a fully constituted Board of Directors and the Producer Price Review Committee, any announcement of a new cocoa producer price is impossible and unauthorized.”
This assertion underscores that the current administrative framework remains incomplete, meaning any media claims of a new pricing regime are “false and misleading.” As such, the cocoa producer price will remain at GH₵3,100 per 64kg bag, equivalent to GH₵49,600 per tonne, for the upcoming 2025/2026 crop season.
The official refutation comes on the heels of broader news coverage. News items from some media houses had indicated that COCOBOD would maintain the current price despite Côte d’Ivoire’s recent increment. While those pieces provided an overview of the decision based on operational and financial assessments, COCOBOD’s latest statement shifts the focus toward the procedural and governance challenges that currently preclude any price revision.
Dr. James Kofi Kutoati, Acting Deputy Chief Executive, at COCOBOD had previously emphasized that the decision to hold the current price was the result of thorough assessments aimed at safeguarding the industry’s long-term sustainability. However, the new statement takes this further by explicitly refuting any suggestion that a new price is about to be introduced.
Why the Rumors?
Reports suggested that market speculation was rife following comparisons with Côte d’Ivoire, where producers recently increased their prices. While regional dynamics make pricing a hot topic, COCOBOD’s clear message is that Ghana’s strategy is governed by internal protocols, and that the absence of key decision-making bodies means no changes can be made at this time.
COCOBOD had previously hinted at the possibility of reviewing producer prices, fees, and margins for future seasons as part of broader discussions under the joint Cocoa Initiative. But until the requisite institutional structures are in place, all announcements regarding price changes remain premature.
Implications for the Cocoa Sector
Ghana’s cocoa farmers and industry stakeholders rely heavily on a stable pricing framework. COCOBOD’s decision, and its insistence on proper governance, aim to preserve market stability even as neighboring Côte d’Ivoire moves to adjust its pricing. By refraining from premature changes, the Board intends to protect revenue streams from royalties, taxes, and dividends while ensuring that any future revision is backed by a robust administrative process.
In an industry where pricing impacts farmer livelihoods and national revenue, COCOBOD’s cautious approach underlines the importance of institutional readiness before embarking on major policy shifts.
By: Patrick Teye
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