Ghana Raises Cocoa Farmers’ Earnings to 70% of Global Price – Agric Minister Announces

Ghana's Minister for Food and Agriculture, Eric Opoku, has announced a major boost in earnings for the country's cocoa farmers. The government has increased the portion of the global cocoa price that farmers receive to 70%, ensuring that they benefit more directly from international market fluctuations. This move aligns with Ghana's commitment to improving the livelihoods of cocoa farmers, who play a critical role in the nation’s economy. By raising their earnings, the government aims to enhance productivity, promote sustainability, and encourage young people to engage in cocoa farming.

This policy shift comes at a time when cocoa prices on the global market have been experiencing significant changes. The decision to allocate a higher share of these prices to farmers is expected to cushion them against economic challenges, particularly rising costs of production. It also underscores the government's efforts to support the agricultural sector, which remains a key driver of Ghana’s economic growth. With this increase, cocoa farmers can expect better financial stability, enabling them to reinvest in their farms and improve yields over time.

The Minister’s announcement signals a renewed commitment to the welfare of cocoa farmers and the broader agricultural sector. By ensuring farmers receive a larger share of the global price, the government is fostering a more equitable distribution of profits within the cocoa value chain. This initiative is expected to boost farmer morale, reduce poverty among rural communities, and contribute to Ghana’s overall economic resilience. Moving forward, stakeholders will be looking to see how this policy impacts production levels and whether it can be sustained in the long term.