Government has directed the Ghana Cocoa Board (COCOBOD) to commence immediate payment to all affected cocoa farmers who are owed money, Finance Minister Dr Cassiel Ato Forson has announced.
Dr Ato Forson disclosed this at a press briefing today, February 12, following an emergency Cabinet meeting convened on Wednesday to address the deepening crisis in the cocoa sector.
The Finance Minister revealed that the Cabinet has approved comprehensive reforms to guarantee fair prices to cocoa farmers, secure the financial viability of the cocoa sector, and ensure the long-term sustainability of the industry.
“To bring relief to unpaid cocoa farmers, Cabinet has accordingly directed the Ghana Cocoa Board to commence immediate payment of all affected cocoa farmers,” he added.
The emergency Cabinet meeting, held on Wednesday, February 11, 2026, underscores the urgency with which the Mahama administration is treating the crisis.
The emergency measures come as thousands of cocoa farmers across the country have been left unpaid for months, with some struggling to afford even basic meals.
COCOBOD is currently grappling with approximately 50,000 metric tonnes of unsold cocoa at ports, while Licensed Buying Companies (LBCs) are owed about GH¢2.04 billion ($185 million) by the regulator.
Some farmers have not been paid since November 2025, forcing many to limit meals, withdraw children from school, and abandon basic farm maintenance. The crisis has also led to reports of farmers detaining purchasing clerks over unpaid cocoa.
The payment delays stem from a combination of factors, including the collapse of international funding, a mismatch between Ghana’s farmgate price and plummeting global cocoa prices, and legacy forward sales contracts signed at historically low prices.
As part of the reforms, the government will present a new Cocoa Board bill to Parliament to implement an automatic adjustment of producer prices.
The proposed legislation will align cocoa producer prices with movements in the world market price, exchange rate, and other key variables.
Crucially, the new bill will guarantee a minimum of 70% of the gross FOB (Free on Board) price to be paid to cocoa farmers.
“Cabinet has therefore decided on the following reforms to guarantee a fair price to the cocoa farmer, secure the financial viability of the cocoa sector, and ensure the long-term sustainability of the cocoa industry,” Dr Ato Forson stated.
