SONA 2026: Cocoa Price Cut Difficult but Necessary – Mahama

President John Dramani Mahama has described the government’s decision to reduce the cocoa producer price as a difficult but necessary step to protect Ghana’s economic stability.

The government recently announced a downward review of the producer price to GH¢41,392 per tonne equivalent to GH¢2,587 per bag for the remainder of the 2025/2026 crop season.

Addressing Liquidity Challenges

Delivering his 2026 State of the Nation Address (SONA) in Parliament, the President explained that the decision was driven by severe liquidity constraints within the cocoa sector.

He warned that maintaining the previous price would have forced the government to borrow billions of cedis, potentially reversing the economic gains achieved in recent months.

Decision Guided by Economic Prudence

According to President Mahama, the move was guided by sound economic judgement and the broader national interest.

“The difference between economic hardship and avoiding the same is the exercise of sound economic judgement. I am determined to take decisions that ensure our collective wellbeing and avoid the sufferings of all our citizens. These are decisions to take but Mr. Speaker, I had to take them,” he stated.

Reforms to Secure Better Future for Farmers

The President assured cocoa farmers that ongoing reforms in the sector will lead to a comprehensive transformation aimed at guaranteeing fair and competitive prices over the long term.

He emphasised that while the price reduction presents immediate challenges, the reforms are intended to build a more resilient cocoa industry capable of sustaining farmers’ livelihoods and strengthening Ghana’s economy.