The Concerned Cocoa Farmers Association of Ghana has called off its planned protest, which was scheduled for August 11, 2025.

Nana Oboadie Boateng Bonus, president of the association, told Citi Business News that the decision to postpone the demonstration was entirely out of respect for a nation in mourning.

“Due to the crash that has sent the state into mourning, the demonstration we had scheduled for Monday, August 11, has been postponed. We have been looking forward to the authorities assuring us that our concerns will be addressed, but nothing has been done,” he said.

Cocoa farmers welcome new producer price, endorse major reforms

The group explained that it decided to stand down out of respect for the eight government officials, including two ministers, who died in a helicopter crash last Wednesday.

The protest was to take place at the Cocoa House, the head office of COCOBOD, in opposition to the recent increase in the cocoa producer price from GH¢3,100 to GH¢3,228 per 64kg bag.

The farmers argue that the GH¢128 increase is too small and does not reflect the higher cost of farm inputs and the economic challenges they face.

Nana Boateng added that holding the protest now would send the wrong message and that dialogue remains the better path forward.

Farmers to receive $5,040 per tonne of cocoa for 2025/2026 season

On August 4, Finance Minister Dr Cassiel Ato Forson announced the revised cocoa price of GH¢51,660 per tonne, equivalent to GH¢3,228.75 per 64kg bag.

This marks a 62.58% jump in dollar terms, from $3,100 to $5,040 per tonne.

According to him, the new price represents 70% of the gross Free-On-Board (FOB) value of $7,200 per tonne, in line with President John Dramani Mahama’s pledge that farmers will receive at least 70% of the world market price for cocoa.

The FOB value was calculated from 100,000 tonnes of forward contracts sold at an average of $7,600 per tonne during the 2023/2024 season, plus expected prices for the next season. The conversion to cedis was based on an exchange rate of GH¢10.25 to the US dollar.

DR/MA

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