Overvalued Cedi Hurting Ghana’s Cocoa Demand, Says Amin Adam

According to a report by TV3 Ghana on 15th November 2026, former Finance Minister Dr. Mohammed Amin Adam has attributed the decline in demand for Ghana’s cocoa to the overvaluation of the cedi.

Dr. Amin Adam, who is Ranking Member of Parliament’s Finance Committee, made the comments while discussing reforms in the cocoa sector. He explained that efforts to prop up the local currency by injecting more dollars into the market come at a cost to the wider economy.

“Demand for Ghana’s cocoa has fallen because of over valuation of the cedi,” he stated. “When you pump in more dollars to shore up the cedi, your economy suffers; you promote import and your exports become uncompetitive.”

His argument rests on a basic principle of international trade. When a currency is held at an artificially strong level, goods priced in that currency become more expensive for foreign buyers. Ghanaian cocoa then looks less attractive compared with supplies from competing producers, and buyers may look elsewhere. At the same time, a stronger cedi makes imports cheaper, encouraging consumption of foreign goods over locally produced ones.

Cocoa remains one of Ghana’s most important export commodities, supporting the livelihoods of hundreds of thousands of farming households and contributing significantly to foreign exchange earnings. Any weakness in demand therefore carries serious implications for farmers, government revenue and the stability of the currency itself.

Dr. Amin Adam’s remarks add to the ongoing national conversation on how best to reform the cocoa sector and strengthen Ghana’s export competitiveness. His position suggests that policymakers may need to look beyond short-term currency support and focus on measures that make the country’s exports more attractive on the global market.

As the debate continues, stakeholders across the sector are expected to follow closely how government responds to these concerns.

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