Koku Anyidoho, former Deputy General Secretary of the National Democratic Congress (NDC), has strongly criticized the Ghanaian government’s recent decision to reduce the price of cocoa, calling it a “devastating haircut” for the country’s cocoa farmers.
This price reduction, announced on February 12 by Finance Minister Dr. Cassiel Ato Forson, now sets the price of cocoa at 2,587 Cedis per bag, effective immediately.
Anyidoho expressed deep concern over the negative effects this price drop would have on over 1.2 million Ghanaians involved in the cocoa sector. He described the move as a blow to the livelihoods of these farmers, many of whom rely on cocoa as their primary source of income.
The reduction in price follows a significant drop in world market prices for cocoa, from an average of 7,200 Cedis per ton to 4,100 Cedis per ton, making Ghana’s cocoa less competitive globally and exacerbating liquidity challenges in the sector.
The government, in its efforts to address these challenges, formed the Producer Price Review Committee (PPLC) to reassess the price for the remainder of the 2025-2026 crop year. However, many stakeholders, including Koku Anyidoho, fear that this decision will lead to further financial distress for Ghana’s cocoa farmers, who are already grappling with numerous economic hurdles.
