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Claim: A social media post claims that President John Mahama promised Ghana’s cocoa farmers GHC7,000 per 64-kg bag and accuses the current government of failing to fulfil that promise (farmers are being paid GHC3,228.75 instead of GHC7,000).
Verdict: False. No record of President Mahama promising to pay cocoa farmers GHC 7,000 per bag. Instead, he promised 70% of the world market price of cocoa. The current Finance Minister, Ato Forson, quoted 6,100 as the appropriate price to have been paid to the cocoa farmers last year.
Full Text
Cocoa has long been a cornerstone of Ghana’s economy and a critical driver of its global trade profile. As the second-largest cocoa producer in the world after Côte d’Ivoire, Ghana accounts for roughly 15–20% of the world’s cocoa supply, exporting hundreds of thousands of metric tonnes annually. The country’s beans are globally renowned for their high quality, often used as the benchmark for premium cocoa products.
Internationally, Ghana plays a strategic role in cocoa price negotiations and policy through its collaboration with Côte d’Ivoire, particularly via the Living Income Differential (LID) mechanism introduced in 2019 to secure better incomes for farmers.
Cocoa is not just any commodity in Ghana — it’s the economic lifeline of about 800,000 farmers. Claims about cocoa prices directly impact their trust in the government, seasonal planning, and livelihood decisions. Ensuring that pricing information is accurate and contextualised is a matter of public interest.
Recently, a widely circulated online claim accuses the Mahama-led government of failing to fulfil a campaign promise to increase the cocoa producer price to GHS 7,000 per tonne.
According to @charllycolegh, farmers woke up to an announcement of a new price pegged at GHS 3,228.75 per tonne — only marginally above the GHS 3,100 allegedly paid during the Akufo-Addo administration.
DUBAWA contacted the claimant for evidence to support her assertion, but she did not respond.
In this context, fact-checking allows for a balanced comparison, instead of relying on emotional or partisan framing. A thorough review of the evidence— including official statements, historical price records, and campaign documents— is necessary to assess the accuracy of the claim and provide clarity for the public and cocoa farmers.
Verification
DUBAWA traced official statements and cocoa-price records to check this. Mahama’s public commitment was to pay farmers 70% of the world-market price, not a fixed GHC7,000 amount.
During the 2024 campaign, NDC officials (including Mahama and his spokespersons) emphasised boosting farmers’ share of the global price, often quoting “70% of FOB” (free-on-board) value. There is no record from reliable sources of Mahama or his team explicitly promising a flat GHC7,000 bag price. (Opposition MPs have cited claims that Finance Minister Ato Forson at one point mentioned “GH¢7,000”.)
Rather, Mahama’s July 2025 announcement (as President) was that farmers would receive no less than 70% of the prevailing world price. The September 2025 set price of GHC3,228.75 per bag reflects 70% of a $7,200/tonne world price. In other words, Ghana now pays US$5,040 per tonne (or US$322.56 per bag) versus US$3,100 previously. Converted at the mid-2025 exchange (~GHC10.25/$), the farmgate rose from GHC49,600/tonne (GHC3,100/bag) under Akufo-Addo to GHC51,660/tonne (GHC3,228.75/bag).
For context, under the previous (2017–2024) NPP governments, the official farmgate prices (per 64-kg bag) were much lower. For example:
- 2016/17 (NDC): GHC475/bag (GHC7,600/tonne).
- 2017/18 (NPP): GHC475/bag (GHC7,600/tonne).
- 2018/19: GH¢475/bag (GHC7,600/tonne).
- 2019/20: GH¢515/bag (GHC8,240/tonne).
- 2020/21: GH¢660/bag (GHC10,560/tonne).
- 2021/22: GH¢660/bag (GHC10,560/tonne).
- 2022/23: GH¢800/bag (GHC12,800/tonne).
- 2023/24: GH¢3,000/bag (GHC48,000/tonne).
- 2024/25 (opened): GHC3,100/bag (GHC49,600/tonne).
In summary, Mahama’s promise was about percentages of the world price, not GHC7,000. The current GHC3,228.75 price (for 2025/26) matches the 70% commitment. The earlier Akufo-Addo government’s cost of GHC3,100 (Sept 2024) equalled only 63.9% of its chosen FOB value.
Exchange Rates and Real Value
It is crucial to account for currency changes. Under the NPP rule, the cedi weakened sharply. In late 2017, one US dollar was about GHC4.5; by late 2024, it was over GHC16. Thus, GHC3,100 in 2024 was roughly US$189 (3,100 ÷ 16.2) per bag, whereas GHC3,228.75 in 2025 was about US$315 (3,228.75 ÷ 10.25) per bag. In USD terms, the farmgate price rose from $3100/tonne to $5040/tonne—a 62.6% hike.
Ghana officially pegged the earlier price (GH¢3,100) at GHC16/USD to protect farmers’ dollar income. In effect, despite a slight nominal cedi increase, farmers’ dollar earnings have grown significantly under the new policy.
International Market Trends
World cocoa prices have been highly volatile. Reuters reported that two back-to-back poor harvests in West Africa (Ghana and Côte d’Ivoire) drove global prices to historic highs in 2023 (around $10,000+/tonne), though prices have since eased. Ghana and the Ivory Coast have coordinated a “living income differential” of $400/tonne since 2019 to support farmer prices. This has kept Ghana’s local price well above global averages.
Even as global prices soared, Ghana, under the NPP, did not raise the farmgate price from 2017 to 2019. Only in 2023 did it enact steep raises (from GHC1,308 to GHC3,000 per bag over a year) as international prices spiked. The new $5,040/tonne price aligns Ghanaian farmers’ share to 70% of a $7,200 FOB benchmark (the implied world price).
Conclusion
Mahama did not promise a flat GHC7,000/64kg bag. His public pledge was to pay 70% of the world price. By that metric, the new 2025/26 price (GHC3,228.75 per bag) fulfils that promise. Under the previous administration (2017–2024), farmers received much less per bag (as low as GHC475 in the early years, rising only to GHC3,100 by 2024). After accounting for the cedi’s weakening, the current GHC3,228.75 is worth far more in USD than the old GHC3,100. International cocoa prices have risen dramatically due to supply shocks, and Ghana’s price adjustments (including a US$400 living-income premium) have aimed to ensure farmers get a fair share.
