The Majority Caucus in Parliament has strongly defended the cocoa producer price set by the Mahama-led administration for the 2025/2026 crop season, rejecting claims that cocoa farmers are being shortchanged.

Speaking at a press briefing in Accra, Eric Afful, Chairman of Parliament’s Economy and Development Committee, said the government’s decision to set the farmgate price at GH¢3,228 per 64kg bag is both justified and fair, given current global market conditions.

Afful highlighted that the Free on Board (FOB) price of cocoa has been increased significantly from $4,850 to $7,200 per metric tonne — a move he said demonstrates the administration’s commitment to securing better incomes for farmers.

“This adjustment reflects the government’s prioritisation of farmer welfare, even in the face of broader economic pressures,” Afful noted. “Living conditions for cocoa farmers under President Mahama are improving, particularly when viewed against the current economic backdrop.”

The Majority also revealed that the Ghana Cocoa Board (COCOBOD) is currently managing a debt of $840 million. This stems from delayed delivery of approximately 333,000 metric tonnes of cocoa to international buyers for the 2023/2024 season.

According to the Caucus, the delays are largely due to global supply chain challenges and weather-related disruptions that impacted output. Nevertheless, they assured that efforts are ongoing to stabilise the sector and fulfill international obligations.

The statement comes in response to the Minority Caucus, who have criticised the government for allegedly underpaying cocoa farmers despite historic global price levels.

In response, the Majority argued that the current pricing structure reflects sound economic judgment, incorporating key factors such as inflation, currency stability, and international cocoa prices.

Beyond pricing, the Majority pointed to several initiatives aimed at improving cocoa farmer livelihoods. These include the reintroduction of free fertiliser distribution, renewed investments in rural infrastructure, and expanded support for farm inputs.

“These measures underscore the government’s commitment to building a resilient and prosperous cocoa sector,” Afful said.