Ghana plans to raise its cocoa farmgate price by 45% for the 2024/25 season to 48,000 cedis per metric ton.

Ghana plans to raise its cocoa farmgate price by about 45% for the 2024/25 season, increasing it to 48,000 cedis per metric ton to enhance farmers' incomes and reduce bean smuggling. This follows a previous 58% price hike to 33,120 cedis per ton for the current season. The decision is pending cabinet approval and aligns with similar actions by Ivory Coast, as both countries collaborate to stabilize cocoa prices and support their farmers amidst production challenges.