The cocoa sector of Ghana is undergoing one of the most significant structural transformations in its history. Following an emergency Cabinet session on 11 February 2026, the Government has announced decisive financial, pricing, and institutional reforms to stabilise the industry, protect farmers, and secure long-term sustainability.
These reforms complement the deepened partnership between the Ghana Cocoa Board (COCOBOD) and the European Union (EU), which has positioned Ghana as a global leader in sustainable, traceable, and deforestation-free cocoa production.
Together, pricing reform, financial restructuring, and sustainability innovation represent a full-spectrum reset of Ghana’s cocoa economy.
The 2025/26 cocoa season began in August 2025 with a producer price of GH¢51,660 per tonne, calculated at 70 percent of a Gross (Freight on Board) FOB price of US$7,200 per tonne. In October 2025, a higher producer price announced by Côte d’Ivoire created a cross-border price gap, prompting the Producer Price Review Committee (PPRC) to raise Ghana’s farmgate price to GH¢58,000 per tonne to prevent smuggling and maintain competitiveness.
However, global cocoa prices have since fallen sharply to about US$4,100 per tonne, making Ghana’s cocoa less competitive and creating liquidity constraints. In response, the PPRC has approved a revised producer price of GH¢41,392 per tonne (GH¢2,587 per bag), effective 12 February 2026. To cushion farmers, the new price reflects 90 percent of the achieved Gross FOB of US$4,200.
Cabinet has also approved sweeping reforms to strengthen the financial position of the Ghana Cocoa Board (COCOBOD), including the introduction of a new financing model based on domestic Cocoa Bonds, conversion of legacy debts into equity, transfer of cocoa roads liabilities to the Ministry of Roads and Highways, and immediate payment of outstanding farmer arrears. A new COCOBOD Bill will institutionalize automatic price adjustments and guarantee farmers a minimum of 70 percent of Gross FOB.
In addition, government has directed that the remainder of the 2025/26 crop be allocated to domestic processors, with a minimum of 50 percent of cocoa beans to be processed locally from the 2026/27 season. These measures are expected to promote value addition, job creation, and greater resilience in the sector.
These reforms complement Ghana’s ongoing sustainability and traceability partnership with the European Union, ensuring continued access to premium international markets.
Together, the pricing adjustments, financial restructuring, and processing reforms mark a decisive reset to secure the future of Ghana’s cocoa industry and safeguard farmer livelihoods amid global market volatility.
