Ghana, Côte d’Ivoire agree to harmonise cocoa producer prices

Ghana and Côte d’Ivoire have reached a landmark agreement to harmonise cocoa producer pricing policies, a move aimed at improving farmer incomes, reducing cross-border cocoa smuggling, and strengthening cooperation between the world’s two largest cocoa-producing nations.

The agreement was announced by Ghana’s Finance Minister, Cassiel Ato Forson, following the 7th Steering Committee Meeting of the Côte d’Ivoire-Ghana Cocoa Initiative (CIGCI) held in Abidjan ahead of the Côte d’Ivoire-Ghana High-Level Summit on the Future of the Cocoa Economy.

The decision marks a significant step toward creating a more coordinated and sustainable cocoa market, with both countries seeking to protect farmers from market volatility while enhancing their influence within the global cocoa value chain.

Presenting the outcomes of the meeting, Dr. Forson disclosed that Ghana and Côte d’Ivoire had agreed to implement a series of measures designed to harmonise farm-gate cocoa prices and improve market coordination.

“The two countries agreed to harmonise farm gate prices through some measures,” he stated.

The agreement includes enhanced collaboration between cocoa trading institutions in both countries, increased sharing of market intelligence and production data, and the alignment of crop year calendars to ensure a more coordinated approach to cocoa marketing.

Under the new framework, both countries will also work toward harmonising the principles used in determining producer prices and country differentials, reducing disparities that have historically existed between the two markets.

To facilitate the process, Ghana and Côte d’Ivoire have agreed to establish a joint technical task force made up of experts from both countries.

The task force will be responsible for designing a comprehensive price coordination framework, monitoring implementation, and periodically reviewing producer prices to ensure they remain aligned with market realities and farmer welfare objectives.

The committee believes a coordinated pricing strategy will strengthen the bargaining position of both countries on the international market while promoting fair compensation for cocoa farmers.

One of the major outcomes of the meeting was the decision to officially synchronise cocoa crop calendars in both countries.

Beginning with the 2026/2027 cocoa season, the cocoa year in Ghana and Côte d’Ivoire will officially run from September 1 to August 31.

According to Dr. Forson, the harmonisation of crop calendars is expected to improve planning, market forecasting, and policy coordination while helping both countries respond more effectively to global market developments.

“The Committee thus reaffirms its commitment to the long-term coordination of cocoa price management and marketing,” he noted.

Industry experts have long identified differences in producer prices between Ghana and Côte d’Ivoire as a major driver of cross-border cocoa smuggling.

Price disparities often encourage farmers and middlemen to move cocoa beans across borders in search of higher returns, resulting in revenue losses and distortions within the sector.

The new harmonisation strategy is expected to reduce these incentives by narrowing pricing gaps and creating a more uniform cocoa trading environment across both countries.

Officials believe the move will also contribute to market stability and improve transparency within the regional cocoa industry.

Together, Ghana and Côte d’Ivoire produce more than 60 percent of the world’s cocoa, making their cooperation crucial to the future of the global chocolate and cocoa industry.

Beyond pricing reforms, the steering committee discussed measures to deepen scientific research, improve sustainability practices, address climate-related challenges, and strengthen regional cooperation within the cocoa sector.

The meeting was co-chaired by Dr. Forson and Côte d’Ivoire’s Agriculture Minister, Bruno Nabagné Koné, under the framework of the Côte d’Ivoire-Ghana Cocoa Initiative, which seeks to coordinate policies and improve the competitiveness of the cocoa industry.

Stakeholders view the latest agreement as a major milestone in efforts to build a more resilient cocoa sector that delivers better returns for farmers while safeguarding the long-term sustainability of one of West Africa’s most important economic sectors.