The Ghana Cocoa Board (COCOBOD) has scrapped sitting allowances for the remainder of the 2025/26 cocoa season.
In a notice, it said this forms part of ongoing efforts to reform Ghana’s cocoa industry and strengthen its long-term sustainability.
“This decision reflects the Board’s commitment to prudent financial management, shared sacrifice, and responsible leadership as COCOBOD undertakes critical reforms to address recent challenges and restore confidence across the cocoa value chain,” it stated.
The Board further reiterated its dedication to supporting measures that enhance efficiency, promote accountability, and safeguard the livelihoods of cocoa farmers, while working collaboratively with government and stakeholders to secure a resilient and sustainable future for Ghana’s cocoa industry.
It comes days after it announced a 20% pay cut for management and 10% for Senior Staff, effective February 16, 2026.
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.
Story by Hajara Fuseini
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Source:
opemsuo.com