The Ghanaian government has announced a new initiative to support cocoa farmers by offering them 70% of the world market price, up from the initial 60% proposal. This decision, announced by the Minister for Food and Agriculture, Eric Opoku, aims to incentivize farmers, increase production, and strengthen Ghana’s position as the world’s second-largest cocoa producer.

The move comes in response to concerns over declining cocoa processing output, with production dropping sharply from 6,614 tonnes in 2023 to 2,886 tonnes in 2024. With limited local processing leading to lost revenue, the Minister emphasized efforts to enhance the cocoa value chain and maximize earnings for farmers. This initiative is expected to provide much-needed relief and drive sustainable growth in Ghana’s cocoa industry.