Mahama: Cocoa price drop a wake-up call for Ghana

President John Dramani Mahama has called for a fundamental shift in Ghana’s cocoa sector, warning that continued reliance on raw exports leaves the country vulnerable to global price shocks.

His remarks come in the wake of a sharp decline in international cocoa prices, which compelled the government to cut the producer price from GH¢3,625 to GH¢2,587 per bag—a 28.6% reduction aimed at maintaining competitiveness on the world market.

The decision has sparked dissatisfaction among farmers, with some staging protests after a visit by members of the Minority Caucus in Parliament. In a widely circulated video, one farmer expressed frustration in Twi, saying: “Mahama, you owe us. Whatever you do, you owe us.”

Addressing the Ghanaian community in Philadelphia on Thursday, March 26, 2026, President Mahama acknowledged the concerns and pointed to long-standing structural challenges within the sector.

“The recent incident with cocoa, with the prices plummeting, and you see all the videos — an aggrieved cocoa farmer saying that I owe them,” he said.

“It is because for almost seventy years after we gained independence, we’re still exporting raw beans to the world. I believe that what has happened in the international market should be a wake-up call for us.”

He emphasised the need for Ghana to move beyond exporting raw cocoa beans and prioritise value addition as a way to shield farmers from volatility in global commodity markets and strengthen the sector’s long-term resilience.