The President of the Cooperative Cocoa Farmers Association, Issifu Issaka, has criticised the government for failing to consult cocoa farmers before unveiling sweeping reforms in the sector.
According to Mr. Issaka, announcing reforms without prior engagement with farmers is unfortunate, given that they are the primary stakeholders in the industry. “The farmers who produce the cocoa and sustain the sector should have been consulted before any major reforms were announced,” he stated.
The government recently unveiled measures aimed at stabilising Ghana’s cocoa industry, ensuring fair pricing for farmers, and promoting long-term sustainability.
Finance Minister Dr. Cassiel Ato Forson outlined major pricing, financial, processing, infrastructure, and governance changes during the announcement on Thursday, February 12.
Pricing and Legislative Changes
Under the new measures, the producer price for the remainder of the 2025–2026 crop season has been adjusted to GH¢41,392 per tonne (GH¢2,587 per bag), representing 90 percent of the achieved gross FOB price of $4,200 per tonne. The adjustment is aimed at cushioning farmers against declining global cocoa prices.
Government also plans to introduce a new Cocoa Board Bill in Parliament, which will establish an automatic price adjustment mechanism tied to world market trends and exchange rate movements. The legislation guarantees farmers a minimum of 70 percent of the gross FOB price to protect them from global price volatility. In addition, COCOBOD has been directed to immediately settle all outstanding arrears owed to farmers.
Financial Restructuring
To strengthen COCOBOD’s financial position, the government will convert GH¢5.8 billion in legacy debt owed to the Ministry of Finance and the Bank of Ghana to restore positive equity.
The reforms will also replace the 32-year-old syndicated loan model and the 2024 buyer-led financing system with a new domestic cocoa bond system beginning in the 2026–2027 season. The proposed revolving fund is expected to ensure liquidity throughout the crop year and facilitate timely cocoa purchases.
However, speaking in an interview with Akwasi Nsiah, host of Badwam on Adom TV, Mr. Issaka revealed that cocoa farmers only received detailed briefings after the official announcement. He explained that COCOBOD CEO Dr. Randy Abbey met with them only after the reforms had been made public.
Mr. Issaka described the oversight as significant, affecting more than 500,000 cooperative cocoa farmers nationwide, many of whom first learned about the initiative through the media.
Despite concerns over the lack of consultation, he acknowledged that the reforms appear promising and could address longstanding challenges in the cocoa sector if implemented effectively and without political interference.
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