The Ghana Cocoa Board (COCOBOD) has confirmed that it will maintain the current producer price for cocoa beans for the remainder of the 2024/25 season, despite a recent upward adjustment in producer prices announced by Côte d’Ivoire.
In an official statement, COCOBOD explained that its decision followed a thorough evaluation of the financial and operational landscape of Ghana’s cocoa industry.
The board acknowledged the developments in the sub-region but emphasized that any sudden price adjustment could have negative effects on the sustainability of Ghana’s cocoa value chain.
COCOBOD also noted that the industry is still grappling with rising input costs, global market volatility, and ongoing efforts to stabilize the sector.
However, the board assured stakeholders that a price increase has not been entirely ruled out. It hinted that there could be a review of the producer price structure, including fees and margins for other stakeholders, during preparations for the 2025/26 cocoa season.
This decision comes at a time when Côte d’Ivoire, Ghana’s closest competitor and fellow member of the Cocoa Initiative, recently announced a price increase to boost farmer incomes and combat cross-border smuggling.
Historically, price disparities between the two nations have triggered smuggling activities, particularly in border communities.