The Ghana Cocoa Board (COCOBOD) has announced a salary cut to be applied to the monthly payment of management and Senior officials.
In a statement, it cited liquidity challenges in the cocoa industry as motivation for the decision.
The said pay cut took effect on Monday, February 16, 2026, and would be in force for the remainder of the 2025/26 crop year.
“The Executive Management has taken a twenty (20) per cent cut, while the Senior Staff have taken a ten (10) per cent reduction in their respective salaries,” it revealed.
In addition to this, it announced cost-cutting measures in procurement and a staff rationalisation exercise.
These are aimed at reducing the overall expenditure of COCOBOD and aligning costs with revenue, it conveyed.
Cocoa Price Reduction
It comes after the government announced a reduction in farmgate cocoa prices for the rest of the 2025/26 crop year.
The beans will now be sold at GHS41,392.00 per tonne and GHS2,587.00 per bag following a review by the Producer Price Review Committee (PPRC) after assessing the challenges facing the sector.
This is a reduction from GHS3,228.75 per bag and GHS51,660 per tonne, which took effect in October 2025.
At a presser on February 12, 2026, the Minister for Finance, Cassiel Ato Forson, said the review in prices had become necessary due to a drop in the world market price of cocoa from an average of US$7,200 per tonne to US$4,100 per tonne, which has made Ghana’s cocoa beans uncompetitive and created liquidity challenges.
“In order to cushion the farmer, the PPRC has recommended that the farmers be paid 90% of the achieved gross FOB of US$4,200.00 to mitigate the adverse impact on the farmer as a result of the fall in the world market price.”
“This measure has become necessary to reflect the reality of the world market price of cocoa, ensure the injection of immediate liquidity for expedited payment of farmers and guarantee the sustainability of the sector,” he justified.
Story by Hajara Fuseini
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Source:
opemsuo.com