*GOVERNMENT TO TABLE NEW COCOBOD BILL, GUARANTEES FARMERS 70% OF FOB PRICE AND 50% LOCAL PROCESSING*

 Government will present a new COCOBOD Bill to Parliament to repeal and replace the Ghana COCOBOD Act 1984, PNDC Law 81, as part of efforts to modernize the governance and financing of the sector.

The Minister for Finance, Dr. Cassiel Ato Forson, announced this while presenting the *Mid-Year Fiscal Policy Review of the 2026 Budget* in Parliament on Thursday, July 23, 2026.

"To modernize the governance and financing of the sector, government will submit a new Cocoa Board Bill to parliament to repeal and replace the Ghana Cocoa Board Act nineteen eighty-four PNDC Law eighty-one," he stated.

Dr. Forson said the proposed legislation will introduce a new producer pricing mechanism and guarantee farmers a minimum share of export earnings.

"The proposed legislation will introduce a new producer pricing mechanism that aligns producer price with movement in international coco price, exchange rate development, and other relevant market conditions. We will also guarantee the cocoa farmer not less than seventy percent of gross free on-board price," he told the House.

The bill will also seek to strengthen the financial position of the Ghana COCOBOD and boost local value addition.

"We will also seek to establish a new financing framework for coco purchases and related operations and restore the long-term financial sustainability and operational efficiency of Ghana COCOBOD. The bill will also ensure that not less than fifty percent of coco based produce in Ghana is processed here in Ghana," Dr. Forson said.

He noted that the cocoa sector remains critical to Ghana’s economy.

"The cocoa sector remains a cornerstone of Ghana's economy. Mr speaker, Ghana's serving as a major source of export earnings and livelihood for millions of Ghanaians particularly in rural Ghana," he stated.

Report filed by PKB