Cocoa farmers’ purchasing power rises despite price drop – Agriculture Minister
17th February 2026
The Minister for Food and Agriculture, Eric Opoku, has said that cocoa farmers are financially better off under the current pricing system, despite the recent reduction in the producer price of cocoa.
Speaking on Ekosii Sen on Asempa FM, the Minister explained that the real income of farmers has improved compared to the period under the New Patriotic Party (NPP) government.
He highlighted that in 2024, when a bag of cocoa sold for GH₵3,100 and cement cost GH₵120 per bag, a farmer could buy about 26 bags of cement with the proceeds from one bag of cocoa. Under the current pricing, with cocoa at GH₵2,587 and cement prices falling to around GH₵80 per bag—largely due to exchange rate stability—a farmer can now purchase approximately 32 bags of cement from a single cocoa bag.
“If cocoa prices increase, we will all benefit. In 2024, one bag of cement cost GH₵120, and cocoa sold for GH₵3,100, allowing a farmer to buy 26 bags of cement. Now, with cocoa at GH₵2,587 and cement at GH₵80 per bag due to exchange rate improvements, one bag of cocoa can buy 32 bags of cement,” he explained.
Mr. Opoku also noted improvements in fuel prices, which have further enhanced farmers’ purchasing power. He said that under the previous administration, one bag of cocoa could buy about 34 gallons of petrol, while currently it can buy about 53 gallons.
“Even though nominal cocoa prices have fallen, farmers’ real income and purchasing power have increased, which is the most important factor. Fuel costs affect every aspect of cocoa production, from irrigation to transportation,” he added.
He further revealed plans to introduce a bill in Parliament that would provide for automatic price adjustments to benefit cocoa farmers in the future.
Overall, the Minister stressed that while cocoa’s nominal price has decreased, farmers are better positioned financially due to lower input costs and improved real income.