Finance Minister Dr. Cassiel Ato Forson has unveiled urgent measures to stabilise Ghana’s struggling cocoa industry, including the immediate clearance of arrears owed to farmers and the introduction of a new producer price of GH¢41,392 per tonne, effective Thursday. Speaking to the nation on 12 February, Dr. Forson announced that Cabinet has instructed the Ghana Cocoa Board (COCOBOD) to promptly settle all outstanding debts to affected farmers, stressing that the move is vital to restoring liquidity and confidence in the sector.
The Producer Price Review Committee (PPRC), chaired by Dr. Forson, also approved a revised producer price in response to the sharp decline in global cocoa prices. Effective February 12, 2026, farmers will now receive GH¢41,392 per tonne, or GH¢2,587 per bag, calculated at 90% of the achieved gross FOB price of $4,200 per tonne. Forson said the adjustment reflects “the reality of the world market price of cocoa” while ensuring “the injection of immediate liquidity” into the sector.
The minister explained that Ghana’s cocoa has recently become uncompetitive on the international market, with global prices falling from about $7,200 to $4,100 per tonne. At the same time, COCOBOD has struggled to purchase beans from farmers due to limited cash flow.
He attributed the liquidity crunch to the collapse of the traditional syndicated loan financing system and an unsustainable model that relied on buyers to pre-finance purchases. As a result, Cocoa Board did not have the liquidity to purchase cocoa from farmers and stock for hedging or other trading decisions,” he said.
Finance Minister Dr. Cassiel Ato Forson announced that Cabinet has endorsed sweeping reforms to ensure cocoa farmers receive a fairer share of export earnings. Central to the plan is a new Cocoa Board Bill, which will guarantee farmers at least 70% of the gross Free on Board (FOB) price and introduce automatic price adjustments linked to global market trends and exchange rate movements.
Dr. Forson assured farmers that future price increases will directly benefit them, declaring: “Never again should the cocoa farmer lose out when prices rise.” Cocoa remains Ghana’s leading agricultural export and a critical source of foreign exchange. However, delayed payments and mounting debts at COCOBOD have disrupted supply chains, leaving thousands of farmers facing severe cash shortages. The government says the latest measures are designed to rebuild trust, strengthen competitiveness, and protect the livelihoods of cocoa farmers.
Source: Winifred Lartey
