The Ghana National Cocoa Farmers Association (GNACOFA) is calling on the Government of Ghana and the Ghana Cocoa Board (COCOBOD) to urgently revise the current cocoa pricing framework to reflect the recent shift in the national exchange rate from GHC 10.25 to USD 1 to the new rate of GHC 13.00 to USD 1.
This is contained in a press release dated September 3, 2025.
“As Cocoa Farmers, we are deeply concerned that the existing producer price of cocoa does not accurately reflect the current market realities, especially given the depreciation of the cedi. The current pricing, still pegged to the outdated exchange rate, effectively reduces the real income of hardworking cocoa farmers, who are already burdened by rising input costs and inflation,” they contended.
“Cocoa farmers are the backbone of Ghana’s economy and deserve fair compensation for their contribution to national development. With the new exchange rate now firmly established at GHC 13.00 to the dollar, it is only just and equitable that the cocoa producer price be recalculated accordingly to ensure farmers are not shortchanged,” GNACOFA further demanded.
They called on COCOBOD and the Ministry of Finance to:
1. Immediately review and adjust the producer price of cocoa to reflect the current exchange rate.
2. Establish a transparent pricing mechanism that automatically adjusts cocoa prices based on prevailing economic indicators.
3. Engage cocoa farmers and stakeholders in meaningful consultations on future pricing policies.
The Association stated that, “This is not just an economic issue—it is a matter of fairness and sustainability. If urgent steps are not taken to address this imbalance cocoa production may decline as farmers lose motivation and the means to sustain their operations or we decide otherwise.”
“GNACOFA stands ready to engage with the government and all relevant agencies to ensure a pricing structure that is fair, transparent, and responsive to the changing economic environment,” they noted.
