We’ve Never Seen This Before:…Cocoa Farmers in Shock as Government Slashes Earnings
Shockwaves continue to ripple through Ghana’s cocoa heartland following the government’s unprecedented mid-season reduction in the farmgate price of cocoa beans.
For the first time in living memory, farmers are facing a direct cut in what they earn per bag, leaving many stunned, angry, and deeply worried about their futures.
The Producer Price Review Committee (PPRC), announced on February 12, 2026, that the producer price for the remainder of the 2025/2026 crop season would drop to GH¢41,392 per metric tonne—equivalent to GH¢2,587 per 64kg bag. This represents a steep 28.6% decline from the GH¢58,000 per tonne (GH¢3,625 per bag) set at the start of the season in October 2025. Farmers who delivered beans before the change continue to receive the higher rate, but those selling from February 13 onward are hit with the new, lower figure.
Finance Minister Dr. Cassiel Ato Forson explained the adjustment as essential to restore competitiveness. Global cocoa prices have plummeted from peaks above $7,000–$12,000 per tonne in 2024 to around $4,000–$3,600 recently, making Ghana’s previously premium priced beans unattractive to international buyers. The high farmgate price had led to unsold stocks piling up, delayed payments to farmers, and severe liquidity challenges at the Ghana Cocoa Board (COCOBOD).
Yet in the villages of the Ashanti, Ahafo, Western North, and Bono regions, where cocoa sustains entire communities, the rationale feels distant and insufficient.
“We’ve never seen this before,” said Kwame Asante, a 58-year-old farmer from Adomfe in Asante Akyem South, speaking to the People’s Forum Platform. “Every season, governments talk about increasing our price to reward hard work and fight smuggling. Now they slash it? My children’s school fees are due, fertilizers are more expensive than ever, and now I get over GH¢1,000 less per bag.
This is shocking, it’s like our labor has been devalued overnight.”
Farmers interviewed across the cocoa belt echoed the disbelief. Many described the move as the first outright reduction in producer price they or their parents had witnessed, contrasting sharply with years of promises, especially from opposition parties now in power, of higher, protected earnings. One group in the Western North Region reportedly expressed fears that the cut could push more farmers toward abandoning cocoa for other crops or even illegal mining (galamsey).
The Ghana National Cocoa Farmers Association acknowledged the global market realities but called the timing and scale “painful.” A coalition of farmers indicated willingness to accept future lower prices if outstanding arrears are cleared swiftly, with the government directing immediate repayments to affected growers.
Opposition figures, including the NPP Minority in Parliament, have condemned the reduction as a “betrayal,” pointing to earlier campaign rhetoric promising farmer-friendly policies. They highlighted the loss of roughly GH¢16,608 per tonne in potential earnings for those affected.
Government officials countered that the new price equates to 90% of the achieved gross FOB export value, well above the legal minimum of 70%, and announced complementary measures: a new domestic cocoa bond financing model, accelerated local processing to over 50% of beans, and planned legislation to guarantee future minimums. These steps, they say, aim to stabilize the sector long-term and prevent smuggling to neighbors like Côte d’Ivoire.
Still, anxiety dominates the plantations. With production costs rising due to climate challenges, input prices, and labor shortages, many fear the slash will deepen poverty and threaten Ghana’s position as the world’s second largest cocoa producer.
As the mid-crop harvest presses on, farmers’ shock is giving way to calls for dialogue. Whether through emergency stakeholder meetings or broader reforms, the sector faces a critical test: balancing global market forces with the livelihoods of the millions who depend on cocoa. For now, in the shade of the cocoa trees, one sentiment prevails, with utter disbelief at a price cut no one anticipated.