GNACOFA Demands Immediate Cocoa Price Adjustment to Match New Exchange Rate
The Ghana National Cocoa Farmers Association (GNACOFA) has called on the Government of Ghana and the Ghana Cocoa Board (COCOBOD) to urgently review and adjust the cocoa producer price to reflect the current exchange rate of GHS 13.00 to USD 1, which has risen from the previous rate of GHS 10.25 to USD 1. The association expressed deep concern that cocoa farmers are being unfairly treated under the existing pricing framework, which remains pegged to outdated economic indicators despite the sharp depreciation of the cedi.
In a strongly worded statement, GNACOFA noted that the current cocoa producer price is no longer sustainable for farmers, who are already grappling with rising inflation, high input costs, and general economic pressures. The association emphasized that cocoa farmers, who are the lifeline of Ghana’s agricultural economy, deserve fair compensation that reflects their significant contribution to national development and the foreign exchange market.
GNACOFA stressed that it is unjust for farmers to continue receiving prices that do not align with the real value of their produce on the international market. According to the association, this unfair pricing system has worsened the plight of farmers, leaving many struggling to break even, let alone sustain their families and farms. The statement further highlighted that cocoa farming is a primary source of income for millions of Ghanaians, and if the pricing imbalance is not corrected, it could result in reduced production, low motivation among farmers, and the gradual collapse of the sector.
The association has called for urgent and transparent reforms in the cocoa pricing structure, insisting that adjustments should be tied to prevailing economic realities, including the cedi-to-dollar exchange rate. GNACOFA also appealed to government agencies, policy makers, and COCOBOD to engage cocoa farmers in all discussions about pricing decisions to ensure fairness and inclusivity.
Industry observers have long warned that Ghana’s cocoa sector, which is a major contributor to the national economy, faces increasing risks if farmer welfare is not prioritized. Ghana remains the world’s second-largest cocoa producer, and GNACOFA believes that protecting farmers’ livelihoods is key to safeguarding this position on the global market.
The association reaffirmed its readiness to collaborate with the government and other stakeholders to develop a pricing system that is fair, transparent, and reflective of the country’s economic environment. GNACOFA urged authorities to act swiftly to prevent a potential decline in cocoa production and ensure that the sector continues to be a source of pride and economic stability for the nation.
Issued by: Ghana National Cocoa Farmers Association (GNACOFA)
For More Information, Contact:
NAME POSITION CONTACT
Nana Aduana National Spokesperson 0248684810
Nana Yaa Asantewaa National Spokesperson 0243355737
Mr. Augustine Ackah National Secretary 0545979319
Nana Appiah National Organiser 0534533521
Nana Ankoma National Organiser 0275001148
Mr. Ntori Aboagye National Organiser 0240731395
Mr. Stephenson Anane Boateng National President 0246363397
