Ghana cocoa regulator proposes 6% price hike to farmers
Cocoa futures rose after Ghana announced a plan to increase the farmgate price by roughly 6 percent for the next season, moving from 2,587 to 2,737 cedis per bag.
Global cocoa futures advanced on Wednesday following Ghana's Cocoa Board proposal to raise the price paid to farmers. The regulator plans to increase the farmgate rate to 2,737 cedis for a 64-kilogram bag for the 2026/27 season, up from the current 2,587 cedis level. Traders interpreted the proposal as a potential supply booster, leading December New York cocoa futures to gain 38 points or 0.64 percent. London cocoa also rose by 0.47 percent. Ghana supplies about 31 percent of the world's cocoa beans and uses a fixed pricing system under state control. The COCOBOD set the existing rate in June despite weaker international market prices to support farmer incomes. The proposed adjustment remains pending formal approval from Ghana's finance minister.
