Ghana Cocoa Board (COCOBOD) CEO, Dr. Randy Abbey, has announced plans to unveil a new cocoa farmgate price in August 2025, signaling a bold step in Ghana’s ambition to become the leader in cocoa producer compensation.
Speaking during a working tour of the Western North Region, Dr. Abbey revealed that the forthcoming price will outpace that of neighboring Ivory Coast, the current leader among global cocoa producers. This strategic move is aimed at improving the livelihoods of Ghanaian cocoa farmers and positioning Ghana as a dominant force in the global cocoa market.
“The new price structure reflects our commitment to ensuring that Ghanaian cocoa farmers receive a fair and competitive share of the global cocoa value chain,” Dr. Abbey stated. “Our vision is to make Ghana’s cocoa industry not only competitive but also a beacon of sustainable agricultural practices.”
Addressing Farmer Challenges Amid Market Opportunities
The announcement aligns with a period of record-high global cocoa prices driven by declining production and mounting climate challenges across West Africa. Dr. Abbey emphasized that the new pricing policy is part of a comprehensive strategy to tackle these challenges while maximizing the opportunities they present for Ghanaian farmers.
During his visit, Dr. Abbey engaged directly with cocoa farmers and COCOBOD staff across multiple districts. He listened to their concerns, ranging from pricing uncertainties to resource management issues, and assured them of the government’s dedication to addressing these challenges.
Concerns Over Resource Wastage
While touring the Sehwi Boako cocoa station in the Sehwi Wiawso Municipality, Dr. Abbey expressed disappointment at the sight of a significant pile of cocopeat left to rot. Cocopeat, a valuable by-product of cocoa processing, could have been repurposed for agricultural use.
He issued a strong directive to district officers to improve resource management practices, stressing that waste of such magnitude undermines the sector’s sustainability goals. “We must adopt more innovative and efficient ways to manage by-products and create additional value for the industry,” he added.
Empowering Cocoa Farmers for a Resilient Future
Dr. Abbey’s visit also highlighted COCOBOD’s commitment to long-term strategies aimed at enhancing farmer resilience. By improving farmgate prices, COCOBOD seeks to empower cocoa farmers to reinvest in their farms, adopt climate-resilient practices, and contribute to the industry’s sustainability.
The August announcement is expected to mark a historic moment for Ghana’s cocoa industry, reaffirming the country’s leadership in cocoa production and its dedication to elevating farmer livelihoods.
Story by: Mercy Addai Turkson #ahotoronline.com
