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The ranking member on Parliament’s agriculture and cocoa affairs committee, Isaac Yaw Opoku, has criticised the government’s new cocoa producer price harshly, calling it “ridiculous, shameful and unacceptable”.
The criticism comes after the Minister for Finance, Cassiel Ato Forson, announced an increase in the price per tonne of cocoa from $3,100 to $5,040, starting Thursday (7 August 2025).
The government says this is a 62.58% increase and represents 70% of the free-on-board (FOB) value of cocoa, which is currently $7,200 per tonne.
The move, according to the Finance Minister, fulfils President Mahama’s promise to give cocoa farmers at least 70% of the international market price.
“Shortchanged”
But Isaac Yaw Opoku isn’t impressed.
“The price announced today is ridiculous. I least expected that. I don’t know what the Finance and Agriculture Ministers were thinking,” he said in an interview with Asaase News.
He argued that based on today’s international cocoa price of $8,211, and an exchange rate of GHC10.35 to $1, the government should be paying cocoa farmers over GHC3,700 per bag – not the GHC3,228 currently set.
“Do the maths. Multiply the international price by the exchange rate, and divide by 16 bags per tonne. Farmers are being shortchanged,” he said.
The Offinso South MP also questioned why government officials had previously promised GHC6,000 to GHC7,000 per bag when in opposition, only to turn around and deliver a lower price now.
“They should come out and apologise to cocoa farmers. Those promises were reckless,” Opoku said.
Caleb Ahinakwah for Asaase Newsroom, Accra
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