Ghana’s government has raised the farm-gate price paid to cocoa growers by 62.58% to $5,040 a tonne for the 2025-26 season, Finance Minister Cassiel Ato Forson said in Accra. The move aims to return a larger share of export revenue to farmers after a sharp rise in global futures and to stem the shift of growers into informal gold mining. Ghana, the world’s No. 2 producer, usually sets its price ahead of neighbouring Ivory Coast, a step that often influences the region’s benchmark. The sharply higher guaranteed price comes as supply risks mount across West Africa. Farmers in Ivory Coast, the top producer, report that an unusual cold spell and scant rainfall threaten pod development for the main crop that starts in October. Many growers are stockpiling beans in anticipation of a higher official price later in the year, further tightening near-term availability. Cocoa futures touched record highs earlier in 2025 on back-to-back poor harvests, ageing trees and crop diseases. Ghana’s price decision, coupled with weather concerns in Ivory Coast, is expected to keep upward pressure on global prices as confectionery makers head into the peak buying period for next year’s chocolate production.