On 1 September 2026, Côte d'Ivoire's agriculture minister set the farmgate price of cocoa for the 2026-2027 season at 1,200 CFA francs per kilo. A year earlier, on 1 October 2025, the season had opened at a record 2,800 CFA francs, before falling back to 1,200 in March 2026 for the mid-crop. On 25 September 2026, Ghana went the other way: its producer price rose to 42,400 cedis per tonne.
Meanwhile, cocoa has climbed 95% in New York since early March 2026, on fears of a poor crop linked to El Niño. The December contract settled at US$5,700 a tonne on 6 October. Why are these prices moving in different directions, and who is allowed to buy the beans? Here are the answers, country by country.
Prices for the 2026-2027 season
| Country | Producer price | Date | How it is set |
|---|---|---|---|
| Côte d'Ivoire | 1,200 CFA francs per kg | Announced 1 September 2026 | Guaranteed minimum price, calculated on forward sales |
| Ghana | 42,400 cedis per tonne, or 2,650 cedis per 64 kg bag | Effective 25 September 2026 | 71.18% of the realised gross FOB price; the law guarantees at least 70% |
| Cameroon | 2,750 to 2,900 CFA francs per kg, buying price in Douala | ONCC report of 1 September 2026 | Free price, which follows the market |
For comparison, in the 1 September 2026 report of Cameroon's Office national du cacao et du café, Cameroonian cocoa was worth 3,569 CFA francs per kilo FOB and 3,654 CFA francs cost, insurance and freight.
Why the Ivorian price fell while the market rose
Côte d'Ivoire and Ghana do not sell their cocoa day by day. The Conseil du Café-Cacao, created by an ordinance of 28 December 2011, sells a large share of the expected crop forward, 70 to 85% depending on the year, through electronic auctions. The price guaranteed to farmers is calculated on the price at which those volumes were sold: the 2011 rule gives them at least 60% of the realised CIF price.
The government said so itself when it announced the 2026-2027 price: it reflects the marketing conditions of the new season and the price at which volumes were sold forward. The contracts were signed when prices were low, in the spring. The summer rally came too late for this price.
Cameroon works differently. Its market has been liberalised since a law of 27 July 1995: there is no fixed producer price, and the price follows the market.
Who is allowed to buy cocoa beans?
In Côte d'Ivoire, exporting requires an export right for a given quantity, price and delivery date. These rights are allocated at auction on the integrated forward sales system for coffee and cocoa, run by the Conseil du Café-Cacao. A foreign buyer therefore buys from an exporter holding these rights, or takes part in the sales itself if approved.
In Ghana, licensed companies, the Licensed Buying Companies, buy beans from farmers and deliver them to the Cocoa Marketing Company, a subsidiary of the Ghana Cocoa Board, which sells cocoa for export and to local factories. New for the 2026-2027 season: at least 50% of the beans must be processed in Ghana.
In Cameroon, buying from farmers is free within the regulatory framework. The Office national du cacao et du café registers sales contracts, checks that they comply and controls quality at export.
What you need to buy cocoa
- an authorised exporter, or export rights in Côte d'Ivoire;
- a defined quality: grade, percentage of mouldy, slaty or defective beans, moisture, bean count;
- a price: fixed, or set against London or New York;
- pre-shipment inspection of weight and quality;
- the documents: certificate of origin, phytosanitary certificate, quality certificate, and for the European Union the traceability information required by the deforestation regulation from 30 December 2026 for large operators.
Our view
The Ivorian system protects farmers from price falls, and that is its strength: in March 2026 it cushioned the drop. But it also deprives them of rises when the forward sales were made too early. Ghana chose to write a minimum share of 70% of the FOB price into law. Cameroon lets the market work.
No model is perfect. But the number that matters for the future is elsewhere: the share of cocoa processed locally. Ghana now requires half. It is the only way for the value of chocolate to stop leaving entirely for Europe.
Frequently asked questions
What is the cocoa farmgate price in Côte d'Ivoire in 2026?
1,200 CFA francs per kilo for the 2026-2027 main crop, announced on 1 September 2026. It was 2,800 CFA francs when the 2025-2026 season opened.
What is the cocoa price in Ghana for 2026-2027?
42,400 cedis per tonne, or 2,650 cedis per 64 kg bag, effective since 25 September 2026.
What is the cocoa price today?
The December contract settled at US$5,700 a tonne in New York on 6 October 2026. The price changes every day.
Can a foreign company buy cocoa beans directly in Africa?
It buys from an authorised exporter. In Côte d'Ivoire, exports require rights allocated at auction by the Conseil du Café-Cacao; in Ghana, cocoa goes through the Cocoa Marketing Company.
Who are the cocoa beans buyers in West Africa?
Approved exporters, international trading houses and local grinders buy the beans; in Ghana, the Cocoa Marketing Company sells to them.
What we do
GraceRoad identifies and checks cocoa exporters and bean processors in West and Central Africa on mandate, for a fixed sourcing fee agreed upfront. We arrange inspection and transport to the port.
Read next: African coffee beans wholesale: robusta price and origins and EUDR 2026: what changes for African cocoa, coffee and wood.
Sources: Agence ivoirienne de presse and the Government of Côte d'Ivoire official portal, 1 to 4 September 2026, 2026-2027 prices; KOACI, 1 October 2025 and 4 March 2026, prices for the 2025-2026 season and the mid-crop; Ghana Cocoa Board, "Review of the producer price of cocoa for the 2026/27 cocoa season", and Graphic Online, 25 September 2026; Ghana Cocoa Board Act, 2026 (Act 1182); Cameroon's Office national du cacao et du café, report of 1 September 2026, reported by Journal du Cameroun and Africtelegraph; Cocoa Intel, 6 October 2026, and MyJoyOnline, on New York prices; Financial Afrik, 8 June 2026, and the Économie ivoirienne portal, on forward sales and the forward sales system; Afriwise and COCOBOD, on Licensed Buying Companies, the Cocoa Marketing Company and local processing; Cameroon Law 95/11 of 27 July 1995.