What is the price of cocoa beans per kilogram/pound in Ghana today?
The retail price range for Ghana cocoa beans is between US$ 2.61 and US$ 3.00 per kilogram or between US$ 1.19 and US$ 1.36 per pound(lb). Click here to see today's exact prices of cocoa beans in Ghana
The retail price range in Ghana Cedi for cocoa beans is between GHS 28.11 and GHS 32.25 per kilogram or between GHS 12.75 and GHS 14.62 per pound(lb) in Accra and Kumasi.
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Enquire NowWholesale prices
In 2024, the approximate wholesale price range for Ghana cocoa beans is between US$ 1.83 and US$ 2.10 per kilogram or between US$ 0.83 and US$ 0.95 per pound(lb).
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Ghana Cocoa Beans Export Prices - Historical, Trends and Prediction
The export price per kilogram of Cocoa Beans from Ghana has seen fluctuations over the last five years. In 2018 the price was $2.89 per kg, followed by $2.87 in 2019, $2.81 in 2020, $2.99 in 2021 and $2.59 in 2022. Based on this trend, it is likely that the export price per kilogram of Cocoa Beans from Ghana will continue to fluctuate in the next two years, with an estimated price of $2.87 in 2023 and $3.08 in 2024.
The cocoa beans exports from Ghana are categorised as:
- Cocoa beans, whole or broken, raw or roasted (HS code 180100)
Ghana Cocoa Beans Import Prices - Historical, Trends and Prediction
The import price per kilogram of Cocoa Beans into Ghana over the last five years has been quite volatile. In 2016, the price was at its highest at $3.24 per kg, before dropping to $2.62 in 2013. The price then rose again to $3.17 in 2015, before dropping to $2.86 in 2017. The price has remained relatively stable since then, with the price in 2018 and 2019 both being $2.89 per kg. The price for 2020 is currently at $0.00 per kg. Looking ahead, it is difficult to predict the exact prices for 2023 and 2024. However, based on the data from the last five years, it is likely that the price will remain relatively stable, with some fluctuations. It is possible that the price could rise to around $3.00 per kg in 2023, before dropping back to around $2.80 per kg in 2024.Export values for Ghana cocoa beans
The total values in export for cocoa beans in Ghana were US$ 1,642,052, US$ 2,437,194 and US$ 1,851,960 in US dollar thousand for the years 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Ghana: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of cocoa beans in other countries across Africa: Algeria cocoa beans, Angola cocoa beans, Botswana cocoa beans, Burundi cocoa beans, Cameroon cocoa beans, Cape Verde cocoa beans, Central African Republic cocoa beans, Comoros cocoa beans, DRC Congo cocoa beans & Benin cocoa beans.
Ghana cocoa beans - Production, Exports, Imports, Seasons and HS Codes
In 2019 Ghana sold 643,643 tonnes of cocoa beans. In 2019 alone, the market for Ghana cocoa beans (processed category) has decreased, changing by -23.707 % compared to the year 2018. Between 2017 and 2019, cocoa beans' exports grew by 12.26% earning the country US$1,851.96m for the year 2019. Ghana's cocoa beans exports are classified as:
- Cocoa beans, whole or broken, raw or roasted (HS code 180100)
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Ghana cocoa beans export values
In 2019, Ghana shipped cocoa beans worth 1,851.96m USD, a contraction of -24.01% from 2018's total cocoa beans export of 2437.194m USD. The annual change in value of Ghana cocoa beans between 2017 to 2018 was 48.424%.
The yearly change in the volume of Ghana's cocoa beans exports between 2017 and 2019 was 12.26 percent compared to a variation of -23.707% in the period between 2018 and 2019.
Export markets for Ghana cocoa beans ( in '000$ )
Ghana's leading destinations for cocoa beans are the Netherlands, Malaysia, US, Japan and Belgium.
Ghana brought in 0 tonnes of cocoa beans in 2019.
Production
The production of cocoa beans in Ghana was 811,700 tonnes in 2019 and is forecast to change by an average of -10.28%. The country had approximately 1,478,462.00 hectares under cocoa beans cultivation.
Ghana Ups Raw Cocoa Bean Prices by 58.26%
On April 5, 2024, Ghana gifted growers a 58.6% farm gate price raise amid a 50% drop in domestic cocoa production for the 2023-24 season. The earlier price that had been in place since September 2023 was GH¢ 20,928 ($1,820) a tonne or $1.82 per kg. This means a new guaranteed price of GH¢ 33,120 ($2,461) per tonne or $2.46 per kg for producers of raw cocoa beans.
Three Cocoa Varieties Grow in Ghana
In 2023, some 800,000 family growers in Ghana were engaged in farming the three cocoa varieties that thrive in the country, namely Forastero, Criollo and Trinitario. Given that cocoa sales generate 25% of the yearly foreign exchange income in the country, many farmers grow at least one of the three varieties to maximise their share of this revenue.
The main variety is Forastero, which came to the country in as early as 1815 and has gone through various breeding improvements since then, including a major revamp program in 1878. It produces superior beans that make Ghana quite competitive in the international market.
The retail prices of Ghana’s cocoa beans are dependant on the fixed farm gate price, whose latest increase in April 2024 was $2.47 per kg. With a standard markup of 8% that retailers make with each purchase from farmers, the retail price therefore draws up to $2.65 a kg.
The government has also been contemplating to hike the price further by 100% over the previous price of $1.82 per kg. If this happens, the new farm gate price would be $2.82 and the retail price $3.04 per kg.