The Majority Caucus in Parliament has strongly defended the current cocoa producer price set by the Mahama-led administration for the 2025/2026 crop season, dismissing criticisms that farmers are being shortchanged.

Addressing journalists in Accra, Chairman of Parliament’s Economy and Development Committee, Eric Afful, explained that the government has significantly increased the Free on Board (FOB) price of cocoa from $4,850 to $7,200 per metric tonne.

This adjustment, he noted, justifies the new farmgate price of GH¢3,228 per 64-kilogram bag for cocoa farmers.

According to Mr. Afful, this upward adjustment reflects the government’s commitment to ensuring fair compensation for farmers in line with global cocoa market trends.

“The living conditions of cocoa farmers under the Mahama administration are better, especially given the current economic realities,” he stated.

In a related disclosure, the Majority Caucus revealed that the Ghana Cocoa Board (COCOBOD) is currently saddled with a debt of $840 million due to delays in the delivery of 333,000 metric tonnes of cocoa to international clients for the 2023/2024 crop season.

The Caucus attributed the delay to global supply chain disruptions and adverse weather conditions that affected production volumes.

Despite this, they maintained that the government is working to honour its commitments and stabilise the cocoa sector.

The Majority's defense follows criticism from the Minority Caucus, who argue that cocoa farmers are being underpaid despite record-high global prices.

However, the Majority insists that the pricing formula reflects economic prudence, considering factors such as exchange rate stability, inflation, and international cocoa pricing.

They also pointed to broader interventions by the government, including reintroducing free fertiliser distribution and investments in rural infrastructure, as proof of a renewed focus on improving the livelihoods of cocoa farmers.