Global Cocoa Prices Fall Below Ghana’s Farmgate Payment Rate

Global cocoa prices have slipped below the level Ghana is currently paying its farmers, creating pressure on the country’s cocoa sector. International cocoa is trading at around 5,100 United States dollars per MT which translates to roughly 54,570 Ghana cedis at prevailing exchange rates of about 10.70 cedis to the dollar. This figure is below the 58,000 cedis per MT producer price set by Ghana in August 2025 for the 2025/2026 crop season under the current farmgate payment rate. When the government announced the increase in producer price last year, world cocoa prices were significantly higher, trading between 6,000 and 7,000 dollars per MT, which gave room for Ghana to raise domestic prices while still broadly aligned with global conditions. Since then, global cocoa prices have eased, while Ghana’s producer price has remained fixed for the season, meaning COCOBOD may need to absorb the difference between international and domestic price levels if the trend continues.