In a major victory for the nation’s cocoa farmers, the Government of Ghana officially ordered the immediate payment of all outstanding arrears on Thursday,
February 12, 2026
The directive followed an emergency Cabinet meeting held by President John Dramani Mahama to address a liquidity crisis that had left many farmers without payment since November 2025. Finance Minister Dr. Cassiel Ato Forson assured the public that COCOBOD is now in a position to clear these debts, providing much-needed relief to households across the cocoa belt.
The government has also adjusted the farmgate price for the remainder of the 2025/2026 season to reflect current global market trends, which have seen prices drop from over $7,000 to roughly $4,100 per tonne.
| Metric | Current Status (as of Feb 12, 2026) |
| New Producer Price | GHS 41,392 per tonne |
| Price per 64kg Bag | GHS 2,587 |
| Farmer Share | 90% of achieved gross FOB price ($4,200) |
| Arrears Status | Immediate Disbursement Ordered |
"This will make farmers buy food for their children, buy clothes for their families, and reduce the hardship we face. It boosts our morale to farm." — Nana Osei Adusa, Ahafo Regional Chief Farmer
The "Cocoa Board Bill" and Long-Term Reforms
Beyond immediate payments, the Finance Minister unveiled a sweeping legislative and structural overhaul to prevent future liquidity crunches.
1. The New Cocoa Board Bill
A new bill will soon be laid before Parliament to institutionalize two major changes:
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Automatic Price Adjustment: Moving away from static annual prices, the farmgate price will now adjust automatically based on world market trends and exchange rate movements.
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70% FOB Guarantee: The law will mandate that farmers receive a minimum of 70% of the gross Free-on-Board (FOB) price, protecting them from administrative overreach.
2. Mandatory Local Processing
In a move toward industrialization, Cabinet has directed that:
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Immediate Term: All remaining beans for the 2025/2026 season are reserved exclusively for domestic processors.
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2026/2027 Season: A minimum of 50% of all Ghana’s cocoa must be processed locally to boost value addition and create jobs.
3. Revival of State-Owned Entities
The government is moving to reclaim the market from foreign-owned buyers by reviving:
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Produce Buying Company (PBC): Positioned to resume its role as the leading licensed buyer with immediate effect.
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Cocoa Processing Company (CPC): To be revitalized as the lead agency for the 50% domestic processing mandate.
Accountability: Forensic Audit Ordered
To address the $1 billion loss and the GHS 5.8 billion legacy debt inherited by the current administration, the Attorney-General has been directed to commission a forensic audit and criminal investigation into COCOBOD's operations over the last eight years. This is intended to ensure transparency and restore the institution's balance sheet.
