Government has directed the Ghana Cocoa Board (COCOBOD) to immediately settle all outstanding payments owed to cocoa farmers nationwide, as part of efforts to address the ongoing crisis in the sector.
The announcement was made by Finance Minister Dr. Cassiel Ato Forson following an emergency Cabinet meeting chaired by President John Dramani Mahama on Wednesday, February 11, 2026.
The meeting was convened to tackle delays in payments to Licensed Cocoa Buyers (LCBs), which have significantly affected farmers across the country.
Speaking to the media, Dr. Forson said, “Cabinet has directed COCOBOD to immediately settle all outstanding debts owed to cocoa farmers.” He added that the move is part of broader reforms aimed at improving the efficiency and transparency of COCOBOD’s operations.
“Cabinet has directed the Ministry of Finance to initiate also immediate reforms at Cocoa Board to streamline their operations and cut costs. Wasteful and uncontrolled expenditure practices are to be curtailed immediately,” he said.
The Minister explained that the action comes amid a sharp decline in international cocoa prices, which have fallen from an average of US$7,200 per tonne to around US$4,100 per tonne, making Ghana’s cocoa less competitive and creating liquidity challenges.
To mitigate the impact on farmers, the Producer Price Review Committee (PPLC), chaired by Dr. Forson, recommended paying farmers 90% of the achieved gross FOB of US$4,200 per tonne.
The Finance Minister emphasized that the government remains committed to protecting the interests of cocoa farmers while ensuring the sustainability of the sector.
