Presidential aide Dr. Sammy Ayeh has assured that government will continue to protect the interests of cocoa farmers, even as global prices are projected to decline sharply in 2026.
Speaking on JoyNews AM Show on Friday, May 1, Dr. Ayeh acknowledged that international cocoa prices have already begun to fall, a trend he said farmers themselves are aware of.
“I have watched several videos from cocoa farmers across the country, and they have acknowledged the reduction in cocoa prices globally. They themselves expected this,” he noted.
His comments come on the back of projections by the World Bank indicating that global cocoa prices could drop by more than 50 per cent—from about US$7.80 per kilogramme in 2025 to around US$3.80 per kilogramme in 2026—largely due to a recovery in global supply after recent shortages.
Despite the expected downturn, Dr. Ayeh reiterated government’s commitment to ensuring fair pricing for farmers.
“The President has indicated that cocoa farmers deserve 70 per cent of the FOB price,” he said, adding that the most recent pricing structure offered farmers close to 90 per cent of the international price.
He revealed that steps are underway to amend the Cocoa Board Act to make the 70 per cent farmer share automatic.
“I am hopeful. These are projections—they may materialise, they may be higher, or even lower. But what we can promise is that government will do its best to ensure that the cocoa farmer gets a fair deal,” he stated.
Dr. Ayeh also used the opportunity to highlight the long-standing issue of limited value addition within Ghana’s cocoa sector, describing it as a critical gap.
“Ghana and Côte d’Ivoire produce a significant portion of the world’s cocoa, yet we have very little control over how prices are determined on the international market,” he observed.
He disclosed that the President directed that 50 per cent of Ghana’s cocoa output should be channelled into local processing to boost value addition.
According to him, increasing domestic processing will strengthen Ghana’s bargaining power and improve earnings from cocoa exports.
“When we add value, it increases the worth of the product and enhances our ability to influence the pricing of processed cocoa,” he explained.
The government’s renewed focus on value addition, he suggested, could help cushion the impact of falling global prices and improve long-term returns for farmers.
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Source: www.myjoyonline.com