The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Randy Abbey has announced a new producer price for cocoa for the 2026/2027 crop season, raising it from GH¢41,392 per tonne to GH¢42,400 per tonne.

The new price, which translates to GH¢2,650 per 64kg bag, takes effect today, September 25, 2026. 

Randy Abbey officially declared the 2026/2027 cocoa season duly opened at a press briefing at Cocoa House.

According to the CEO, the price was approved by COCOBOD and all key stakeholders as enshrined in the new Ghana Cocoa Board Act 2026 (Act 1182) including the Minister of Finance, cocoa farmers, and the Chamber of Cocoa Marketers comprising Licensed Buying Companies, hauliers and processors.

He explained that the new price represents 71.18% of the realized gross Free On Board (FOB) price, exceeding the minimum 70% threshold guaranteed to farmers under the new Act.

"We have approved that the producer price of cocoa be increased from 41,392 Ghana Cedis per tonne to 42,400 Ghana Cedis per tonne for the 2026-2027 cocoa season. This represents 71.18% of the realized gross FOB and translates into 2,650 Ghana Cedis per 64kg bag," Mr. Abbey stated.

He explained that the Ghana Cocoa Board Act 2026 introduces significant reforms to strengthen governance and long-term sustainability of Ghana's cocoa industry. 

Among other provisions, the Act guarantees farmers a minimum of 70% of the gross FOB price, strengthens protection of cocoa farms from illegal mining (galamsey), introduces a new financing framework to support domestic value addition and prohibits COCOBOD from engaging in quasi-fiscal activities.

"These reforms are intended to transform the cocoa sector, strengthen its financial and institutional foundations, improve returns to farmers and place the industry on a sustainable path of growth and prosperity," he said.

The CEO added that beyond the price increase, COCOBOD will continue to implement productivity enhancement programmes aimed at reducing the production burden on farmers and increasing yields. 

These include the supply of free fertilizer, free hybrid cocoa seedlings and the Cocoa Disease and Pest Control Programme (CODAPEC).

He said the interventions align with President John Dramani Mahama's vision for a robust, resilient and sustainable cocoa industry and are expected to significantly curb cocoa smuggling.

He therefore called on farmers, traditional authorities, Licensed Buying Companies (LBCs), security agencies, cocoa-growing communities and all Ghanaians to support COCOBOD's efforts to protect Ghana's cocoa.

Mr. Abbey also declared that COCOBOD has fully deployed the Ghana Cocoa Traceability System (GCTS) across all cocoa-growing areas.

He said this positions Ghana to comply with the European Union Deforestation Regulation (EUDR) which takes effect from December 30, 2026. 

The system ensures cocoa supplied to the EU market is traceable, deforestation-free, child labour-free and legally produced, covering raw, semi-processed and processed beans.

He disclosed that existing rates and fees for other stakeholders in the supply chain including buyers' margins, hauliers' rates, warehousing and internal marketing costs as well as fees for disinfestation, grading and sealing, and scale inspection have been maintained.