President of the Cocoa Farmers Cooperative Union, Issifu Issaka, has rejected the newly announced cocoa producer price, describing it as a betrayal of farmers’ expectations.
Speaking to ABC News Gh, Issaka said, “I receive it in bad faith because our expectation was not met. Because this does not represent 70% of the international market as the president promised us.”
He added, “We are going to reject it entirely,” signaling mounting tensions between the government and cocoa producers.
This comes after Finance Minister Dr. Cassiel Ato Forson announced a 62.58% increase in the producer price of cocoa, raising it from US$3,100 to US$5,040 per tonne for the 2025/2026 season.
According to the minister, the adjustment aligns with President Mahama’s pledge to ensure farmers receive 70% of the Free-On-Board (FOB) value of US$7,200.
At an average exchange rate of GH¢10.25 to the dollar, farmers are to receive GH¢3,228.75 per 64kg bag starting August 7.
However, Issaka insists the new figure falls short of expectations.
“We were expecting at least GH¢3,800 per 64kg bag of cocoa. That is what we had expected,” he said.
The union believes the government has failed to factor in rising costs of production and the depreciation of the cedi at input shops.
“This is not fair,” Issaka emphasized, suggesting the policy has left farmers with more losses than gains.
The discontent within the farming community is growing, as they accuse the Ghana Cocoa Board and the new leadership of non-engagement.
“Since the appointment of the new board, nobody has engaged us. We have written about five letters but no response,” Issaka lamented.
With cocoa production already on the decline due to poor labour conditions and rising input costs, Issaka warns that farmers will soon hold a press conference to make their grievances public.
Source: ABC News
