Ghana has announced an unprecedented 45% increase in the price paid to cocoa producers, rising from 33,120 cedis to 48,000 cedis ($3,070) per tonne for the 2024/25 season. This move aims to boost producers’ incomes and curb cocoa smuggling. The decision, effective immediately, addresses global market pressures and may prompt similar actions in Côte d’Ivoire. Despite the increase, analysts warn that price discrepancies might still encourage smuggling.
