Ghana raises cocoa price amid risks to global supply

Ghana has raised the farmgate price for cocoa in the 2026/27 season to 42,400 cedis/ton, or about $3,647/ton. This is 2.4% above the level in place since February and well above the current price in Ivory Coast of around $2,084/ton.

The widening price gap between the world’s two largest cocoa producers could encourage more informal cross-border flows of beans from Ivory Coast into neighboring countries in search of higher returns. This, in turn, could further complicate the stability of supplies to the international market.

Ghana’s new price is in line with its policy of ensuring that farmers receive at least 70% of the FOB export value. According to the Ghana Cocoa Board, the new rate represents 71.8% of the export value.

For the 2025/26 season, Ghana initially targeted cocoa production of 650 thsd tons, but actual deliveries exceeded 750 thsd tons, partly due to inflows of beans from neighboring countries. Ghana and Ivory Coast together account for more than half of global cocoa supply.

Global cocoa prices have rebounded sharply since February on expectations of a smaller West African crop due to disease and adverse weather. New York futures have nearly doubled from their February lows and are trading around $5,600/ton, while a potentially strong El Niño poses additional risks to the 2026/27 crop.

Tags: prices, Ghana, cocoa