Addressing Parliament during the 2026 State of the Nation Address, President John Dramani Mahama has defended the government’s recent adjustment of cocoa prices, describing it as a bold intervention designed to protect Ghana’s fragile economic recovery rather than undermine farmers’ livelihoods.

Under the revised arrangement, the Producer Price of Cocoa has been reduced to GHS41,392 per tonne, translating to GHS2,587 per bag, for the remainder of the 2025/2026 crop season.

President Mahama explained that the Cocoa sector was facing serious financial strain, making it unsustainable to maintain the previous pricing structure.

He noted that keeping the old rate would have forced the state to secure massive loans, a move he said could reverse the hard-won economic gains achieved after a challenging period of debt restructuring and fiscal tightening.

He stressed that leadership sometimes requires making uncomfortable decisions to prevent greater hardship in the future. According to him, the adjustment reflects a careful balancing of national priorities, ensuring the broader economy remains stable while reforms are rolled out within the Cocoa industry.

The President acknowledged the concerns of cocoa farmers but assured them that the review forms part of a wider reform agenda aimed at strengthening the sector.

He indicated that measures are being implemented to improve efficiency, boost foreign exchange earnings, and create a more resilient Cocoa value chain that will, in time, deliver sustainable and competitive returns to farmers.