High prices threaten Ghana’s Cocoa competitiveness - COCOBOD CEO warns
8th February 2026
International buyers are increasingly turning away from Ghana’s cocoa due to higher prices compared to beans from other producing countries, the Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr. Randy Abbey, has revealed.
According to Dr. Abbey, the challenge stems from Ghana’s pricing model, which guarantees farmers a relatively high return. Currently, cocoa farmers are paid US$5,040 per tonne, representing about 70% of the Free on Board (FOB) price. This rate was set when global cocoa prices were strong, averaging around US$7,200 per tonne.
However, global market conditions have since shifted. Prices now range between US$4,100 and US$4,400 per tonne, while Ghana’s total cost—including haulage, grading, warehousing, and shipping—stands at approximately US$6,300 per tonne.
This has created a significant price gap between Ghana’s cocoa and beans from competitors such as Côte d’Ivoire, Nigeria, Ecuador, and Brazil.
“Which buyer will take your crop at 5,040 when the same crop is available for 4,100? So, the buyers have moved from Ghana to other places where they can get a crop because it’s a business,” Dr. Abbey said during an interview on TV3’s Key Points.
He explained that buyers act on behalf of manufacturers who are unwilling to pay above prevailing market rates. The situation is further compounded by Ghana’s US$400 Living Income Differential (LID), introduced to ensure cocoa farmers earn a fair wage.
While the LID was designed to reinforce Ghana’s premium status, it has also made the country’s cocoa less competitive in a global market with many alternatives.
So far, international buyers have purchased 530,000 tonnes of Ghana’s projected 650,000-tonne output. However, with cocoa prices falling, many buyers are hesitant to commit further, opting instead for cheaper sources from West Africa, Latin America, and Asia.
Dr. Abbey stressed that Ghana faces mounting pressure to balance the welfare of its farmers with the need to remain competitive in the global cocoa market.