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New Cocoa Price: I’m not surprised because of the exchange rate – Nana Bonsu

Wed, Aug 6 2025 10:45 AM
in Ghana General News, News
new cocoa price im not surprised because of the exchange rate nana bonsu
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New Cocoa Price: I'm not surprised because of the exchange rate - Nana Bonsu

President of the Concerned Farmers Association, Nana Oboadie Boateng Bonsu, has criticised the government’s newly announced cocoa producer price for the 2025/26 season, pointing to poor communication and the falling exchange rate as key reasons for farmers’ dissatisfaction.

On Monday, the government announced the approval of a new producer price of $5,040 per tonne—up from $3,100 last season—a 62.58% increase.

Finance Minister Dr. Cassiel Ato Forson announced the price following a meeting of the Producer Price Review Committee, which he chairs. But for many cocoa farmers across the country, the news was underwhelming.

Emmanuel Nodjo, a cocoa farmer with seven acres under cultivation, told JoyNews on August 5, “We were expecting better than this, so the price is not encouraging. The farmers are not very happy with the price. The price is not appreciating, and we are not happy. We were expecting at least ¢4,000, but it didn’t happen.”

Speaking on JoyNews AM Show on August 6, Nana Bonsu explained why the reaction was unsurprising: “The problem now is the lack of dialogue between farmers and COCOBOD. Before announcing the price, you should engage the farmers, especially after knowing how the exchange rate has depreciated. You should go back to the people and talk with them.”

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He revealed the root of the frustration, saying, “It was a shock when I heard the news, though I wasn’t all that surprised because I know the dollar rate is coming down. Ato has forced too much in a way that has made our cocoa price suffer, and it has made us, the farmers, suffer.”

With over 25 years of experience advocating for cocoa farmers, Nana Bonsu emphasized the critical need for genuine consultation before important decisions are made.

“The problem now is a dialogue between the farmers and COCOBOD. Before you reveal the price and after you know the exchange rate has depreciated, what you should do is go back to the people and engage them. If you can’t do that, that is why the Concerned Farmers are there,” he added.

He did not hold back in criticizing COCOBOD’s current approach.

“We have been doing this for many years; we know the farmers, and they know us, and they do listen to us. COCOBOD has been reaching out to people who are not truly trusted by the farmers, and they often fail to engage directly with the grassroots,” he stated

Drawing comparison to politics, Nana Bonsu explained, “It’s like a Member of Parliament—you can’t just wake up and tell the Speaker this is what your constituency wants without asking your assembly members and other people within the electoral area. The same thing applies to the farmers. We have chief farmers across all 72 cocoa districts. When you represent farmers on the board and there is an issue, you have to come down and then let the people understand.”

Read Also: Many farmers are dissatisfied with new producer price; we expected more than GH¢3,228.75 – Cocoa farmer

Acknowledging the efforts of COCOBOD’s CEO, Dr. Randy Abbey, to engage farmers, Nana Bonsu nevertheless cautioned, “I don’t doubt that Randy is trying to engage the farmers and do his part, but that is not the right approach. Consulting just two or three farmers means very little; we have established ways of reaching them effectively. Randy is new to the field and needs to understand that there are many tricks and tactics within COCOBOD. We, who work directly with the farmers, know what is happening. If you ignore the broader channels and try to deal directly with a few farmers, it will only create problems.”

He concluded with a firm message: “That is why we, the Concerned Farmers, are here. Whatever information you give us, we take it to the grassroots and ensure that the people fully understand the situation on the ground.”

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