Ghana Cocoa Buyers Lack Funds to Purchase Farmer Beans

Licensed cocoa buyers in Ghana are currently facing a severe shortage of funds to purchase beans from farmers, despite a recent government decision to lower the fixed price of the commodity. Although the state reduced the farmgate price by nearly 30% earlier this month to 41,392 cedis (approximately $3,797) per metric ton, the new rate remains significantly higher than the global market price of around $3,200. This pricing gap has left international traders with little incentive to buy, leading to a stockpile of at least 50,000 tons of unsold beans at various ports.