The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr. Randy Abbey, has disclosed that a new cocoa farmgate price will be announced in August 2025.
The revised price, he said, is expected to exceed that of neighbouring Ivory Coast, one of the world’s top cocoa-producing countries.
During a working visit to the Western North Region, Dr. Abbey explained that the new pricing policy is part of a broader strategy to improve the welfare of Ghanaian cocoa farmers by offering them better compensation for their produce.
The goal, he emphasized, is to make Ghana’s cocoa industry more competitive while ensuring farmers receive a fair share of the global cocoa value chain.
The announcement comes at a time when global cocoa prices have surged due to declining production and climate challenges across West Africa.
Dr. Abbey’s visit took him to several cocoa-growing communities and COCOBOD offices, where he engaged with farmers and staff to assess their challenges and opportunities.
However, while touring the Sehwi Boako cocoa station in the Sehwi Wiawso Municipality, Dr. Abbey expressed concern over a large pile of cocopeat that had been left to rot.
He called on district officers to ensure proper resource management to avoid wastage of valuable by-products that could be repurposed for agricultural use.