1 hr ago
Ghana Raises Cocoa Farmer Prices as Supply Disruptions Persist
Ghana is paying cocoa farmers more money for the next harvest.
Farmers will receive 42,400 cedis for each ton of cocoa.
Ivory Coast, another major cocoa producer, did not raise its price.
This difference could encourage some farmers to move cocoa across borders illegally.
Ghana received more cocoa than expected last season, partly because of beans brought in from nearby countries.
Cocoa prices around the world have risen since February.
Experts expect the next West African crop could be smaller because of disease and bad weather.
A strong El Niño could also cause flooding or drought.
Ghana and Ivory Coast together produce more than half of the world’s cocoa.
Ghana will pay cocoa farmers 42,400 cedis per ton for the 2026-27 season, up 2.4%.
The new Ghanaian price is intended to provide farmers at least 70% of export value.
Ivory Coast kept its farmgate price unchanged at $2,084 per ton.
The price gap could encourage smuggling from Ivory Coast into neighboring countries.
Disease, adverse weather, and possible El Niño conditions may reduce West Africa’s next cocoa crop.
- Who
- Ghanaian cocoa farmers, Ghana Cocoa Board, and Ivory Coast cocoa producers.
- What
- Ghana raised its cocoa farmgate price for the 2026-27 season while Ivory Coast kept its price unchanged.
- Where
- Ghana and Ivory Coast in West Africa, with potential effects on the international cocoa market.
- When
- The new Ghanaian harvest season starts Friday; the price revision follows a February reduction and subsequent recovery in futures.
- Why
- Ghana said the increase supports its goal of giving farmers at least 70% of the free-on-board export value, while the price gap may encourage cross-border smuggling.
Key facts
- Ghana’s new farmgate price
- 42,400 cedis per ton for the 2026-27 season
- Previous Ghanaian price
- 41,392 cedis per ton, set after a February reduction
- Price increase
- 2.4%
- Ivory Coast price
- $2,084 per ton, unchanged earlier this month
- Ghana’s share target
- At least 70% of the free-on-board export cost
- New price as export value
- 71.8% of the free-on-board value
- Recent cocoa futures price
- Around $5,600 per ton in New York, after nearly doubling from the February low
- Combined production
- Ghana and Ivory Coast account for more than half of global cocoa supply
