Offinso South MP, Isaac Yaw Opoku, has launched a scathing attack on the Mahama administration over its newly announced cocoa producer price, describing it as “ridiculous, shameful, and unacceptable.”
Despite the government touting a 62.58% increase in the producer price—from $3,100 to $5,040 per tonne—the Ranking Member on Parliament’s Agriculture and Cocoa Affairs Committee insists cocoa farmers are being cheated.
“They should come out and apologise to cocoa farmers. Those promises were reckless,” he said, referencing past claims by current government officials, while in opposition, that farmers would earn between GHS 6,000 and GHS 7,000 per bag.
Finance Minister Dr. Cassiel Ato Forson had announced that the new price, effective Thursday, August 7, 2025, gives farmers 70% of the Free-On-Board (FOB) value, which currently stands at $7,200 per tonne. The government has argued that the increase fulfills President Mahama’s pledge to ensure cocoa farmers receive at least 70% of the international market price.
But Mr. Opoku is not convinced. “The price announced today is ridiculous. I least expected that. I don’t know what the Finance and Agriculture Ministers were thinking,” he told Asaase News.
He questioned the logic behind the current GHS 3,228 per bag when, according to him, calculations based on the prevailing international cocoa price of $8,211 and an exchange rate of GHS 10.35 to $1 should result in a payout of over GHS 3,700 per bag.
“Do the maths. Multiply the international price by the exchange rate, and divide by 16 bags per tonne. Farmers are being shortchanged,” he asserted.
