The Minister of Finance, Dr. Cassiel Ato Baah Forson, has said government is seeking to present a bill in Parliament for automatic price adjustment for cocoa.
Dr. Forson, during a press briefing on Thursday, February 12, 2026, which detailed the outcome of an emergency Cabinet meeting constituted by President John Dramani Mahama on Wednesday, February 11, noted that the new model which will be determined by world price market and other key variables will prevent the current challenges at the sector from recurring.
The emergency Cabinet meeting, which was followed by the press encounter, was to find solutions to the challenges at the cocoa sector, particularly the government’s struggle to pay the cocoa farmers and those along the value chain.
“To bring relief to cocoa farmers, Cabinet has accordingly, directed the Ghana Cocoa Board, to commence immediate payment of all affected cocoa farmers.
“A new COCOBOD bill will be presented to Parliament to implement an automatic adjustment of producer price, to allow movement in the world market price, exchange rate, and other key variables, and guarantees a minimum of 70 per cent of gross FOB price to be paid the cocoa farmer,” he stated.
Dr. Forson explained that the current challenges facing the industry stems from mismanagement of the sector which he said needs an urgent reform to ensure the cocoa industry doesn’t collapse.
“A careful review of the cocoa sector over the last eight years revealed gross mismanagement, which requires immediate and comprehensive reforms to address the challenges in the sector.
He explained that the reforms are meant to “guarantee a fair price to the cocoa farmer, secure the financial viability of the cocoa sector, and ensure the long term sustainability of the cocoa industry.”
Gov’t directs COCOBOD to commence payments to all cocoa farmers
