President John Dramani Mahama has said he personally understands the economic pressure facing cocoa farmers, stressing that government policies on cocoa pricing must reflect the realities on the ground.

Speaking at the maiden Ghana Tree Crops Authority Investment Summit and Exhibition on Tuesday, February 17, 2026, the president said the event was meant to address practical challenges in the sector rather than serve as a ceremonial gathering.

He revealed that he is also a cocoa farmer, having planted cocoa on 50 acres of land given to him, and therefore directly feels the effects of producer price changes.

“Nana Kwebu Ewusi gave me 50 acres of land, and I planted cocoa on the 50 acres, so I am a cocoa farmer. So when the price is reduced by the government, it affects me too. I want to be able to empathise with farmers so that when we take any policy decision, we know that it has an effect on farmers and we feel it ourselves,” he said.

The summit aims to attract investment into cocoa and other tree crops such as cashew, rubber, coconut and oil palm as part of efforts to diversify Ghana’s agricultural economy and promote value addition.

President Mahama's remarks follow recent reforms in the cocoa economy that saw the farmgate price reduced from GH¢3,625 to GH¢2,587 per bag in response to volatility on the international market.

Ghana, the world’s second-largest cocoa producer after Côte d’Ivoire, depends heavily on cocoa as a major source of foreign exchange and livelihoods for more than 800,000 farm households. The crop also supports millions of people across farming, transport and processing.

The global cocoa prices have fluctuated sharply in recent years, rising to over $10,000 per tonne in 2024 before declining due to improved production forecasts and market corrections, creating uncertainty for both farmers and policymakers.

President Mahama reaffirmed his administration’s commitment to strengthening the cocoa sector through better pricing mechanisms, improved productivity and fair returns for farmers.

Meanwhile, COCOBOD has slashed the pay of executive managers and senior managers by 20% and 10% respectively.