Government will submit a new COCOBOD Bill to Parliament to reform Ghana’s cocoa sector, guarantee farmers at least 70 percent of the Free-on-Board (FOB) price and expand local cocoa processing.
Presenting the 2026 Mid-Year Budget Review, Dr Cassiel Ato Forson, the Minister for Finance, said the proposed legislation would repeal and replace the Ghana Cocoa Board Act of 1984.
He said the Bill would introduce a new producer pricing mechanism that aligns cocoa prices with international market prices, exchange rate movements and other market conditions.
The Minister said government would guarantee cocoa farmers not less than 70 per cent of the gross FOB price.
He said the proposed law would also establish a new financing framework for cocoa purchases and restore the long-term financial sustainability of COCOBOD.
Additionally, the Bill would require that at least 50 per cent of cocoa beans produced in Ghana be processed locally to promote value addition, industrialisation and export growth.
Dr Forson said the reforms were expected to improve farmer incomes, strengthen the sector’s financial position and enhance Ghana’s competitiveness in the global cocoa industry.
