File photo of cocoa beans
Ghana’s cocoa deliveries to warehouses in August more than quadrupled compared to the same period last year, as an accelerated start to the season provided early cash to farmers, contributing to a supply increase that is helping cool global prices.
This is according to a report by Bloomberg, as sighted by GhanaWeb Business.
This year, the country decided to start its cocoa season in August, two months ahead of the usual schedule, to support farmers who sell their crop at a government-set price.
Bloomberg reported that arrivals of the chocolate-making ingredient in the four weeks ending September 4, 2025, reached 50,440 metric tons, compared to about 11,000 tons delivered during the same period in 2024, according to sources familiar with the matter.
Ghana, which is the world’s second-largest producer raised the amount it pays farmers for cocoa beans by 4.2%, to GH¢3,228.75 ($261) per 64-kilogram bag in the 2025–2026 season. This is expected to reduce incentives for smuggling beans to neighboring countries where prices are higher.
Additionally, the market is closely watching supplies from West African growers after a series of back-to-back poor harvests fueled a global shortage that sent New York futures to record highs last year.
While a small surplus is expected in the current 2024–2025 season, the market remains tight, and prices are well above historical levels.
Most of the beans delivered to warehouses are destined for export, though some are sold to local processors.
Meanwhile, Ghana has forecast a cocoa crop of 650,000 tons for the 2025–2026 season, up from 600,000 tons in the previous harvest.
The world’s top grower, Ivory Coast, where farmers’ pay is also set by the government, is expected to announce an increase in farmgate prices for the new season, which begins on October 1, 2025.
Ghana’s efforts to curb smuggling have shown some progress. A new funding model, in which top exporters help finance purchases, has also improved the tracking of beans from farms, according to sources who requested anonymity because they were not authorised to speak publicly.
SP/MA
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