A senior official at the Presidency has claimed that cocoa farmers in Ghana received as little as 30 per cent of the Free-On-Board (FOB) price during the previous administration, a situation he says became a major campaign issue for the National Democratic Congress (NDC) ahead of the 2024 elections.

Peter Boamah Otokunor, Director of Presidential Initiatives in Agriculture and Agribusiness at the Office of the President, made the remarks in an interview with JoyNews journalist Gemma Appiah while outlining the government’s plans to reform Ghana’s cocoa sector.

According to Dr Otokunor, the portion of export earnings paid to farmers during the administration of former President Nana Addo Dankwa Akufo-Addo was significantly lower than what the NDC believed farmers deserved.

“Between 2017 and 2024, the highest the government gave to the cocoa farmer is 30% of the FOB price,” he said.
“That was our bone of contention. That was our worry.”

His comments come as the government led by John Dramani Mahama intensifies engagements with cocoa farmers in several cocoa-growing communities to explain recent pricing decisions and outline broader reforms aimed at strengthening the sector.

One of the key issues affecting cocoa pricing, he explained, relates to earlier forward sales contracts entered into by the Ghana Cocoa Board (COCOBOD) during the 2024/2025 cocoa season at lower international prices. These contracts meant Ghana could not immediately pass on higher global cocoa prices to farmers when the market later surged.

The issue became a major talking point during the 2024 election campaign, with the NDC accusing the then government of failing to ensure farmers received a fair share of export revenues.

Dr Otokunor said engagements with cocoa farmers across producing communities reinforced the party’s concerns about the distribution of earnings within the sector.

He added that the current administration is pursuing reforms designed to increase transparency in cocoa pricing and ensure that a larger share of export revenues ultimately reaches farmers.

Ghana’s cocoa industry remains a vital pillar of the national economy, supporting about 800,000 farming households and generating roughly $2 billion in foreign exchange each year.