Finance Minister Dr. Casseil Ato Forson has highlighted key reforms in Ghana’s cocoa sector aimed at boosting farmer incomes and local participation, including the restoration of Produce Buying Company (PBC) and Cocoa Processing Company (CPC).
Speaking to journalists after President John Dramani Mahama’s State of the Nation Address, Dr. Forson explained that the sector had been “largely destroyed by the previous administration” and that the government has spent the past year stabilizing operations and implementing reforms.
He emphasized the improved support for farmers, noting that Ghana now offers significantly higher farm-gate prices compared to neighboring countries.
“The National Democratic Congress’ manifesto will pledge to give the farmer a 70% of the world market price. Today, we are doing more than 100%. In fact, as we speak today, our neighbor’s Ivory Coast has just announced a new producer price… So clearly, today, Ghana’s cocoa, the cocoa farmer in Ghana is getting twice a better price than that of an Ivorian cocoa farmer,” he said.
Dr. Forson also announced the revival of collapsed institutions, stating, “Even at the LBC side, licensed buying companies today, our PBC, produce buying company, was collapsed in the previous regime. Today, we are bringing it back. CPC was collapsed by the previous regime. Today, we are bringing it back.”
The Finance Minister added that the reforms would promote value addition and job creation, encouraging local businesses to participate in cocoa processing.
He concluded that these measures demonstrate the government’s commitment to improving the welfare of farmers, increasing local industry participation, and creating jobs along the cocoa value chain.
