The Minister for Finance, Dr. Cassiel Ato Forson, has announced a significant reduction in the producer price of cocoa, citing a global market slump and severe liquidity challenges within the sector. Effective Thursday, February 12, 2026, the price per bag of cocoa has been adjusted downward from GH₵3,625 to GH₵2,587 for the remainder of the 2025/2026 crop season.
Addressing a press conference following an emergency Cabinet meeting, Dr. Forson explained that the drastic move was necessary after world market prices for cocoa fell from an average of $7,200 per ton to $4,100 per ton. He noted that the previous price levels had rendered Ghanaian cocoa uncompetitive and had placed an unsustainable strain on the nation’s finances, contributing to months of payment delays that have left many farmers without income since November 2025.
The Minister highlighted the gravity of the international situation, stating, “The world market price has dropped significantly from an average of $7,200 per ton to $4,100 per ton, making Ghana’s cocoa beans uncompetitive and creating liquidity challenges.”
Under the new pricing structure, the Producer Price Review Committee has recommended that farmers receive 90 percent of the achieved gross Free On Board price. Dr. Forson emphasized that this adjustment is intended to provide immediate liquidity, allowing the government to expedite outstanding payments to farmers and stabilize the industry’s long-term outlook.
In addition to the price cut, the government has unveiled a suite of aggressive reforms aimed at overhauling the cocoa sector. The Cabinet has approved the introduction of a new Cocoa Board Bill, which seeks to legally guarantee farmers a minimum of 70 percent of the gross FOB price in the future. Furthermore, the government plans to pivot away from traditional offshore borrowing, opting instead for a new financing model driven by domestic cocoa bonds.
In a push for industrialization, a new directive will also require at least 50 percent of all cocoa beans produced in Ghana to be processed locally, starting with the 2026/2027 season. Meanwhile, in a move to ensure accountability, the Attorney-General has been instructed to launch a forensic audit and criminal investigation into the operations of COCOBOD spanning the last eight years.
As the new price takes effect today, the government maintains that these difficult decisions are essential to saving the cocoa sector from collapse and ensuring that the industry remains a viable backbone of the Ghanaian economy.