The government has announced a downward adjustment of the cocoa producer price for the remainder of the 2025/2026 crop season, setting it at GH¢2,587 per bag, down from GH¢3,625 set at the start of the season.
Finance Minister Dr. Cassiel Ato Forson disclosed this during an emergency press briefing on February 12, 2026, following a critical Cabinet meeting to address a liquidity crisis affecting thousands of unpaid farmers.
The price reduction responds to a volatile international market, where cocoa prices have plummeted by over 63% year-on-year, trading around $3,772 per tonne as of February 2026.
The move follows a Cabinet meeting held to address a deepening liquidity crisis that has left thousands of farmers unpaid for months.
The “demand destruction” caused by high chocolate prices, coupled with a projected global surplus of 287,000 metric tonnes, has forced Ghana to realign its farmgate prices with international realities.
In other development, Dr. Ato Forson announced that Cabinet has directed the Ghana Cocoa Board (COCOBOD) to begin immediate payment to all farmers currently owed for their beans. Reports indicate that some farmers have been without pay since November 2025, leading to severe hardship and the detention of some purchasing clerks.
To ensure this crisis does not repeat, the government is introducing several landmark reforms:
Moving away from expensive international syndicated loans, Ghana will now utilize domestic cocoa bonds to purchase beans.
These bonds will create a revolving fund to ensure a steady cash flow.
The state-owned Produce Buying Company (PBC) will be revitalized with immediate effect to resume its role as the leading licensed buyer.
Domestic Processing Mandate: In a push for value addition, the government has directed that the remainder of the 2025/2026 beans be processed locally.
Starting from the 2026/2027 season, 50% of all cocoa produced in Ghana must be processed domestically.
