In a groundbreaking move aimed at boosting cocoa production and improving farmers’ livelihoods, Minister for Food and Agriculture, Eric Opoku, has announced an increase in the share of the world market price received by cocoa farmers from 60% to 70%.
Speaking on the government’s commitment to prioritizing cocoa farmers, the Member of Parliament for Asunafo South emphasized that this increment is part of a broader strategy to enhance productivity and ensure the sustainability of Ghana’s cocoa sector. “At any point, the cocoa farmer must be given not less than 60 percent of the world market price. Mr. Speaker, we are fully determined to give cocoa farmers more than 60 percent. We want to give them 70 percent,” he declared.
This policy shift marks a significant improvement in the earnings of cocoa farmers, reinforcing Ghana’s dedication to supporting its agricultural workforce. The move is expected to serve as a strong incentive for farmers, encouraging higher production levels to meet both local processing demands and global export expectations.
Ghana, the world’s second-largest producer of cocoa, relies heavily on the crop for economic growth and employment. Experts believe that increasing farmers’ earnings will lead to better farm management, investments in modern agricultural techniques, and an overall increase in cocoa output.
“We must give cocoa farmers competitive prices to motivate them to produce more cocoa so that we can have enough to feed our processing factories,” Opoku added, highlighting the government’s ambition to strengthen local cocoa processing industries.
The decision has been widely praised by farmers and industry stakeholders, who see it as a necessary step toward improving the economic conditions of those at the heart of Ghana’s cocoa sector.