Minister of Finance, Dr Cassiel Ato Forson
As part of measures to safeguard Ghana’s cocoa sector, the government has announced that it will, in the coming days, lay before Parliament a new cocoa bill guaranteeing farmers a minimum of 70 percent of the Free On Board (FOB) price of their produce.
According to the Minister of Finance, Dr Cassiel Ato Forson, the proposed legislation seeks to strengthen transparency, improve farmer incomes, and ensure greater accountability across the cocoa value chain.
Speaking at a press briefing on February 12, 2026, Dr Ato Forson said the bill would guide producer pricing to align more closely with world market prices for Ghanaian farmers.
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“A new COCOBOD bill will be presented to Parliament to implement an automatic adjustment of producer prices to reflect movements in the world market price, exchange rates, and other key variables, while guaranteeing a minimum of 70 percent of the gross FOB price to cocoa farmers,” he stated.
He added that COCOBOD’s new cocoa financing model would take effect in the 2026/2027 cocoa crop season.
“A new financing model for cocoa purchases and related operations, with the added benefit of increased processing, will be introduced effective the 2026/2027 crop season,” he noted.
The FOB price refers to the price of cocoa at the point of export, excluding insurance and freight costs.
By pegging farmers’ earnings to a fixed percentage of this price, the government aims to shield producers from price volatility and market inefficiencies that have historically reduced farmgate incomes.
SP/MA
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Source:
www.ghanaweb.com