Fall in Cocoa Prices Gave Me a Headache – Otumfuo
The Occupant of the Golden Stool, Otumfuo Osei Tutu II, has expressed concern over the recent fall in global cocoa prices and its impact on farmgate prices in Ghana.
In February 2026, the government reduced the producer price of cocoa to GH¢41,392 per tonne and GH¢2,587 per bag for the remainder of the 2025/2026 crop season.
During a meeting with the Managing Director of the Côte d’Ivoire–Ghana Cocoa Initiative (CIGCI), H.E. Alex Assanvo, on May 8, 2026, the Asantehene said the decline had compounded the challenges facing cocoa farmers and the sector as a whole.
He acknowledged the multifaceted nature of the sector’s problems.
“There is no doubt that we have difficulty with cocoa… The fall in cocoa prices was something that gave me a headache. We have to look at it and take a common position,” he said.
Reviewing the challenges facing the cocoa sector in both countries, His Majesty stressed that Ghana and Côte d’Ivoire must tackle the issues collectively.
“We cannot do that in isolation. If we say that we are doing it individually, we won’t succeed. We have to find out what is wrong, what we can do together, and how to build together. We need to look at smuggling objectively to see how we can solve it.”
“Now people in Ghana are unwilling to farm. It’s still the older ones who are into cocoa farming. The young ones want to live in urban cities with air conditioning. They don’t find it attractive, and that is what we have to change.”
With cocoa remaining the backbone of the economy, Otumfuo emphasized the need for a strategic response.
“Though we have other resources, agriculture is the mainstay of our economy. It creates employment and holds our economy together so we can build.”
He suggested incentives to attract the youth, a fair pricing mechanism, fertilizer support, and other interventions.
The Asantehene also called for greater value addition.
“We need to add value to our cocoa. If we don’t process it ourselves and sell the beans raw, we lose so much. We create employment if we add value and export.”
H.E. Alex Assanvo said high-level discussions had already begun between the two countries to address the issues.
He informed Otumfuo of an upcoming meeting with Ghana’s Minister of Agriculture, as well as a planned presidential summit co-chaired by President John Dramani Mahama and President Alassane Ouattara.
At the summit, he said, the two presidents will deliver a joint message on tackling cocoa disease, stabilizing market prices, and calling on other producing countries to join the effort.
“Together, Ghana and Côte d’Ivoire represent over 80% of global production,” he said.
Story by Hajara Fuseini
Click to read more: https://opemsuo.com/author/hajara-fuseini/
