Ghana’s Cocoa Crisis Is Not a Price Story: It Is a Governance Failure

In February 2026, Ghana did something it had not done in living memory. It cut the guaranteed farm-gate cocoa price by 28.6 percent in a single announcement – from GH₵58,000 to GH₵41,392 per tonne – stripping income from approximately 800,000 smallholder farming households, or roughly 3.2 million Gh