Ghana Cocoa Farmers received only 30% of export price under previous govt – Otokunor

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

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

He explained that the share of export earnings reaching farmers during the Nana Akufo-Addo administration was far lower than what the NDC considered fair.

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

His comments come as the Mahama administration engages cocoa farmers in several communities to explain recent pricing decisions and outline broader sector reforms.

Dr Otokunor noted that during the 2024/2025 season, forward sales contracts signed earlier by the Ghana Cocoa Board at lower international prices meant that Ghana could not immediately pass on higher global cocoa prices to farmers.

The issue was a key talking point during the 2024 election campaign, with the NDC accusing the previous government of shortchanging cocoa farmers. Dr Otokunor said the party’s engagements with cocoa-growing communities reinforced these concerns.

According to the Presidency, the current reforms under the Mahama administration aim to ensure greater transparency in cocoa pricing and to increase the share of export earnings reaching farmers.

Ghana’s cocoa sector remains one of the country’s most important economic pillars, supporting an estimated 800,000 farm families and generating roughly $2 billion in foreign exchange annually.