Eric Opoku, the Minister for Food and Agriculture has announced the Mahama government will pay Cocoa farmers 70% of the world market price.
According to Eric Opoku, the increase is intended to motivate farmers, boost production, and further cement Ghana’s standing as the world’s second-largest producer of cocoa.
In a Facebook post on Saturday, Mr Opoku the Agric Minister announced that the government will offer cocoa farmers 70% of the world market price for their produce, exceeding the initially proposed 60%.
He stated, “Since 2023, CPC’s production has been on a downward trend. Despite having a processing capacity of 64,500 tonnes, the company produced only 6,614 tonnes in 2023 and 2,886 tonnes in 2024. This decline is largely due to reduced cocoa bean production, which has affected supply to the processing company,” he stated.
“To address this challenge, I announced the government’s decision to exceed the initial 60% proposal and offer cocoa farmers 70% of the world market price. This increase is intended to motivate farmers, boost production, and further cement Ghana’s standing as the world’s second-largest producer of cocoa”, he added.
Meanwhile, the Ghana Cocoa Board (COCOBOD) has shut down rumours circulating on social media that the government has increased cocoa prices.
According to COCOBOD, the information is completely untrue.
COCOBOD noted that a false flyer circulating on social media claimed that the Minister for Food and Agriculture had announced an increase in cocoa prices.
COCOBOD in a statement on its social media page wrote, “Our attention has been drawn to a false flyer circulating on social media claiming that the Minister for Food and Agriculture has announced an increase in cocoa prices. This information is completely untrue”.
COCOBOD further urged the public to disregard the misinformation and trust only official communication channels for accurate updates on cocoa pricing.
“We urge our cherished stakeholders and the public to disregard this fake news and rely only on official communication from COCOBOD and the Ministry,” the statement added.
Watch the video below:
I have announced government’s decision to exceed the initial 60% proposal and offer cocoa farmers 70% of the world market price.
This increase is intended to motivate farmers, boost production, and further cement Ghana’s standing as the world’s second largest producer of cocoa. pic.twitter.com/DReVacfAe3
— Hon. Eric Opoku MP (@EricOpokuMP) February 16, 2025
