Ghana and Côte d’Ivoire agree plan to harmonise cocoa prices

Ghana and Côte d’Ivoire have agreed to harmonise cocoa producer pricing policies in a move aimed at improving farmer incomes, reducing market distortions and strengthening cooperation between the world’s two largest cocoa producers.

The agreement was announced by 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 Tuesday.

The two countries said they would coordinate the way farmgate prices are set, alongside deeper collaboration on market data, trading systems and crop calendars.

Dr Forson said the measures were designed to reduce differences in producer prices and align pricing principles across both countries.

“The two countries agreed to harmonise farm gate prices through some measures,” he said while outlining the committee’s conclusions.

Under the plan, Ghana and Côte d’Ivoire will establish a joint technical task force to develop a pricing coordination framework and review producer prices periodically.

They also agreed to standardise their cocoa crop calendar, with the cocoa year running from 1 September to 31 August starting from the 2026/27 season.

“The committee thus reaffirms its commitment to the long-term coordination of cocoa price management and marketing,” Dr Forson added.

Together, Ghana and Côte d’Ivoire account for more than half of global cocoa production and are key price influencers in the international cocoa market.

Officials say differences in farmgate prices between the two countries have in the past contributed to cross-border smuggling and uneven market conditions.

The harmonisation effort is intended to stabilise pricing, improve transparency and ensure more consistent returns for farmers across both countries.

The steering committee meeting was co-chaired by Dr Forson and Côte d’Ivoire’s Agriculture Minister, Bruno Nabagné Koné, and forms part of broader efforts under the CIGCI to coordinate cocoa sector policy.

Both countries also discussed closer scientific cooperation, sustainability measures and broader reforms aimed at strengthening the long-term resilience of the cocoa industry.