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July 23, 2026
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Gov’t to introduce new COCOBOD Bill, guarantees cocoa farmers 70% of FOB price
Money
Policy
Opportunity
Growth
Key Points
- The government will introduce a new COCOBOD Bill to modernize the governance and financing of Ghana’s cocoa sector.
- This proposed legislation will repeal and replace the Ghana Cocoa Board Act, 1984.
- It will guarantee cocoa farmers not less than 70% of the gross Free-on-Board (FOB) price and link producer prices to international market conditions.
- A new financing framework will be established to restore COCOBOD's long-term financial sustainability and operational efficiency.
- The Bill will mandate that at least 50% of cocoa beans produced in Ghana are processed locally to increase value addition.
Why This Matters
This is highly significant for Ghana as cocoa is a cornerstone of its economy, supporting millions of livelihoods. The reforms aim to ensure fairer compensation for farmers, enhance local value addition, and secure the financial health and long-term sustainability of the entire cocoa sector, which could lead to substantial economic growth and job creation.
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