Accra, Feb. 12, – The Government has directed the Ghana Cocoa Board (COCOBOD) to immediately pay all arrears owed to cocoa farmers following an emergency Cabinet meeting on Wednesday.
Finance Minister Dr. Cassiel Ato Baah Forson announced the directive at a press briefing, responding to mounting pressure from the Ghana National Cocoa Farmers Association over payments outstanding since November 2025.
"Cabinet has directed COCOBOD to commence immediate payment of all affected cocoa farmers," Dr. Forson stated, assuring that COCOBOD has the financial capacity despite its challenges.
Key Reforms Approved
Producer price increased to 90% of gross FOB price (US$4,200/tonne)
New Cocoa Board Bill for automatic price adjustments tied to world market
Produce Buying Company (PBC) revival as leading buyer
2025-2026 crop remainder allocated for domestic processing
Dr. Forson emphasized cocoa's role as Ghana's economic mainstay, pledging sustained government support for farmers and sector viability.
Some farmers welcomed the payments, saying they would ease family hardships and boost farming morale.
No comments:
Post a Comment