Jerome Sam, Head of Public Affairs at the Ghana Cocoa Board (COCOBOD), has explained the recent 28.6% reduction in cocoa prices, emphasising that the decision is driven by international market dynamics rather than government bias against farmers.
Speaking on the Asaase Breakfast Show on Friday (13 February), Sam, who hails from a cocoa-farming family in the Western North Region, acknowledged the frustrations of farmers who feel “punished for a crisis they did not create.”
He clarified that cocoa prices are determined by two main factors: the international market price and the Ghanaian cedi exchange rate. “It is true that the international price has fallen,” Sam said. “Neighbouring countries have also reduced their prices. This is not an isolated situation for Ghana.”
According to Sam, COCOBOD had projected 650,000 metric tons of cocoa purchases for the 2025–2026 season but had only acquired 580,000 metric tons, with 50,000 tons yet to be assigned to buyers. The reduced price of GHS 3,625 applies only to the cocoa yet to be taken over, not to the entire season.
Sam also outlined a new pricing model being introduced through legislation, which will tie future cocoa prices more transparently to global market rates. “If the international price rises, 70% or more will go directly to farmers. This ensures fairness and eliminates opaque calculations,” he explained.
He reassured farmers that, despite the current cut, 90% of proceeds from cocoa sales under the current situation will benefit them, prioritizing farmers over administrative and processing costs.
Asaase Broadcasting Company airs on Asaase 99.5 Accra, Asaase 98.5 Kumasi, Asaase 99.7 Tamale, Asaase 100.3 Cape Coast, AsaasePa 107.3 (Accra).
Affiliates: Bawku FM 101.5, Bead FM 99.9 (Bimbilla), Mining City Radio 89.5 (Tarkwa), Nandom FM 101.9, Nyatefe Radio 94.5 (Dzodze), Sissala Radio 96.3 (Tumu), Somuaa FM 89.9 (Gushegu), Stone City 90.7 (Ho) and Wale FM 106.9 (Walewale).
Listen online: atlanticafricanews.com/, Sound Garden and TuneIn.
Follow us:
X: @asaaseradio995, @Asaase985ksi, @Asaase997tamale, @asaase1003, asaasepa1073
Instagram: asaaseradio99.5, asaase985ksi, asaase100.3, asaase99.7tamale, asaasepa107.3
LinkedIn: company/asaaseradio995. TikTok: @asaaseradio99.5
Facebook: asaase99.5, asaase985ksi, Asaase100.3, asaase99.7, AsaasePa107.3.
YouTube: AsaaseRadioXtra.
Join the conversation. Accra: call 020 000 9951/054 888 8995, WhatsApp 020 000 0995. Kumasi: call 059 415 7985 or call/WhatsApp 020 631 5260. Tamale: call/WhatsApp/SMS 053 554 6468. Cape Coast: call/WhatsApp 059 388 2652.
#AsaaseRadio
#AsaasePa
#TheVoiceofOurLand
