New COCOBOD bill to be presented to Parliament- Finance Minister

Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has announced plans to introduce a new COCOBOD bill to Parliament, aiming to address the challenges facing the cocoa sector.

The bill seeks to implement an automatic adjustment of producer prices in line with fluctuations in the world market price, exchange rate, and other key variables, ensuring a minimum of 70% of the gross FOB price is paid to cocoa farmers.

This announcement was made during a press briefing on Thursday, February 12, 2026, where the Minister unveiled comprehensive reforms to address the crisis in the cocoa sector. The move comes after cocoa farmers expressed concerns over delayed payments since November 2025.

Following a cabinet meeting, the Minister directed COCOBOD to pay all cocoa farmers, stating, “Cabinet directs COCOBOD to commence immediate payment of all affected farmers.”

Furthermore, a new financing module for cocoa purchases and related operations, with associated benefits for increased processing, will be introduced in the 2026-2027 crop season.

The current financing model has proven unsustainable, relying on buyers to bear financing costs and pre-finance cocoa purchases.

The Minister noted that 50% of Ghana’s cocoa beans will be processed domestically from the 2026/2027 crop year, as part of measures to reform the cocoa sector.

The Ghanaian cocoa sector has faced challenges such as declining production, smuggling, financial constraints, and global price volatility.

The announced reforms aim to address structural weaknesses and enhance efficiency within the industry.