Ghana and Côte d’Ivoire, the world’s two leading cocoa producers, have taken a historic step to harmonise their cocoa producer pricing policies. This landmark agreement aims to improve the livelihoods of millions of cocoa farmers, strengthen market stability, and foster deeper cooperation between the two nations.
The announcement came from Ghana’s Finance Minister, Dr. Cassiel Ato Forson, following the 7th Meeting of the Steering Committee of the Côte d’Ivoire-Ghana Cocoa Initiative (CIGCI), held in Abidjan on June 16, 2026. Presenting the committee’s conclusions, Dr. Forson revealed that both countries would adopt measures to align farm gate prices, ensuring that cocoa farmers on both sides of the border receive comparable incomes for their crops.
Key elements of the agreement include enhanced collaboration between trading rooms, increased sharing of market data, and the harmonisation of cocoa crop calendars. By aligning the principles used to set cocoa prices, the two countries hope to reduce disparities in producer prices and eliminate cross-border price differentials that have historically contributed to smuggling and market instability.
To turn this vision into reality, a technical task force made up of experts from both countries will be established. Their mission: to develop a coordinated pricing framework and periodically review producer prices to keep them fair and competitive.
Another significant milestone is the agreement to harmonise cocoa crop calendars, with the cocoa year now set to run from September 1 to August 31, starting with the 2026/2027 season. This synchronisation is expected to streamline market operations and make price management more efficient.
The steering committee, co-chaired by Dr. Forson and Côte d’Ivoire’s Minister of Agriculture, Bruno Nabagné Koné, reaffirmed its commitment to long-term coordination in cocoa price management and marketing. The meeting also explored avenues for scientific cooperation, sustainable cocoa production, and regional collaboration, all with the goal of building a more resilient and prosperous cocoa sector.
Together, Ghana and Côte d’Ivoire account for more than half of global cocoa output. By working hand in hand, they are not only improving the welfare of their farmers but also setting a new course for stability and sustainability in the world cocoa market.
Source: Apexnewsgh.com