Miracles Aboagye: The Ghanaian cocoa farmer is poorer today than he has ever been in the last 12yrs

He makes the point that the cost of managing and maintaining an acre of cocoa farm has increased from an average of GHc10,250 to GHc12,650, a net cost increase of GHc2,400.

Ironically, he said,  the total income from an acre of cocoa farm for the farmer has reduced from GH31,000 in 2024 to GHc25,870 in 2026.

On average, the income loss between 2024 and 2026 per an acre of cocoa is GHc5,130, he added.

“What it means is that, for a farmer who has about 100acres of cocoa, he is receiving a Haircut of GHc513,000. A Ghanaian cocoa farmer in 2026 is spending more to maintain their farm but receiving less income than it was in 2024. And all this suffering is being brought upon the hardworking farmer simply because of one wrong trading decision by this clueless NDC Government.

The Mahama government has announced a downward adjustment of the cocoa producer price for the remainder of the 2025/2026 crop season, setting it at GH¢2,587 per bag, down from the GH¢3,625 set at the start of the season.

The decision was disclosed by the Minister for Finance, Dr. Cassiel Ato Forson, during an emergency press briefing on Thursday, February 12, 2026.

The move follows a critical Cabinet meeting held on Wednesday to address a deepening liquidity crisis that has left thousands of farmers unpaid for months.

The price reduction is a direct response to a volatile international market. While cocoa prices reached historic highs of over $12,000 per tonne in late 2024, they have since plummeted by over 63% year-on-year, trading around $3,772 per tonne as of February 2026.

This “demand destruction”, where high chocolate prices led consumers to buy less, coupled with a projected global surplus of 287,000 metric tonnes for the current season, has forced Ghana to realign its farmgate prices with international realities.

Dr Ato Forson announced that the Cabinet has directed the Ghana Cocoa Board (COCOBOD) to begin immediate payment to all farmers currently owed for their beans. Reports indicate that some farmers have been without pay since November 2025, leading to severe hardship and the detention of some purchasing clerks.

To ensure this crisis does not repeat, the government is introducing several landmark reforms:

• New Financing Module: Moving away from expensive international syndicated loans, Ghana will now utilise domestic cocoa bonds to purchase beans. These bonds will create a revolving fund to ensure a steady cash flow.
• Revival of PBC: The state-owned Produce Buying Company (PBC) will be revitalised with immediate effect to resume its role as the leading licensed buyer.
• Domestic Processing Mandate: In a push for value addition, the government has directed that the remainder of the 2025/2026 beans be processed locally. Starting from the 2026/2027 season, 50% of all cocoa produced in Ghana must be processed domestically.