Ghana Plans to Hike Cocoa Farmgate Price by 45% for 2024/25 Crop Season

Ghana set to raise cocoa farmgate price by 45% for 2024/25 season to support farmers and prevent smuggling.

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Ghana's cocoa industry is set for a significant change as the country's cocoa regulator plans to increase the farmgate price paid to farmers by nearly 45% for the 2024/25 crop season. 

This would mark the second consecutive increase, following a 58% rise earlier this year that matched Côte d’Ivoire's adjustments. 

The proposed hike is aimed at boosting farmers' incomes and curbing the illegal smuggling of cocoa beans across borders. 

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The Ghana Civil Society platform has also urged for an increase to $3,662 per ton to further support farmers. 

The announcement, expected this September, comes amid a challenging year for the cocoa sector, with rising demand and crop issues in West Africa due to plant diseases and climate changes.

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