Ghana Cocoa Board Act guarantees farmers 70% of market price

The Ghana Cocoa Board Act, 2026, has been enacted to guarantee that cocoa farmers receive at least 70 per cent of the world market price for their produce. President John Dramani Mahama stated that this legislation transforms what was previously a policy into a mandatory statutory obligation, ensuring a fairer share of international market value for producers.

Currently, Ghana is paying farmers 71.18 per cent of the world market price, which exceeds the new legal minimum. The President noted that this legislation helps address historical disparities where farmers previously received as little as 35 per cent of the international price.

In the Ashanti Region, cocoa farmers and traditional leaders have expressed satisfaction with the new Act following stakeholder engagements organized by the Ghana Cocoa Board (COCOBOD). While some participants initially sought higher producer prices, they acknowledged the economic factors influencing the current pricing. Stakeholders also called for increased protection of cocoa-growing lands from illegal mining and urged for the depoliticization of the cocoa sector to ensure long-term stability.