Ghana has raised the price paid to cocoa farmers for the 2026-27 season as futures rebounded, diverging from neighboring Ivory Coast, which left its farmgate price unchanged earlier this month. The widening price gap may encourage farmers in Ivory Coast, the world’s top producer, to smuggle beans into nearby countries in search of higher income, potentially disrupting the flow of cocoa into the international market and sustaining prices on an upward trend.

Cocoa growers in the world’s second-biggest producer will receive 42,400 cedis ($3,647) a ton for the new harvest starting Friday, an increase of 2.4% from the 41,392 cedis paid since February, Randy Abbey, chief executive of Ghana Cocoa Board, told reporters in Accra. That compares with $2,084 a ton paid by Ivory Coast. The revision aligns with Ghana’s goal of ensuring farmers receive at least 70% of the free-on-board export cost.

International cocoa prices have risen since February on expectations that West Africa’s 2026-27 crop will be smaller due to crop disease and adverse weather. New York cocoa futures traded at around $5,600 per ton, nearly doubling from February lows amid weakening global demand.