The Ghana Cocoa Board (COCOBOD) has revealed that the proposed 2026 COCOBOD Bill seeks to overhaul Ghana’s cocoa sector and provide greater stability for farmers.

Speaking on Kumasi-based Nhyira FM’s programme ‘Kro Yi Mu Nsem,’ the Public Relations Officer of COCOBOD, Sam Jerome, explained that the reforms in the Bill are designed to address financial challenges, ensure fair prices for cocoa farmers, and strengthen the sector overall.

According to Mr. Jerome, key proposals in the Bill include guaranteeing farmers a minimum of 70% of the gross FOB price, introducing automatic producer price adjustments based on world market rates and exchange rates, and establishing a Cocoa Stabilization Fund to shield farmers from price drops if international cocoa prices fall.

“When the new COCOBOD Bill is passed, a Cocoa Stabilization Fund will be established to protect farmers from price cuts when international cocoa prices decline,” he said.

He added that the Bill will make it mandatory for governments to ensure farmers receive at least 70% of the gross FOB price, giving farmers legal grounds to take action if this threshold is not met.

“Farmers can sue any government that fails to pay them 70% of the international cocoa price once the new COCOBOD Bill is passed,” Mr. Jerome emphasised.

The introduction of automatic pricing is expected to replace fixed seasonal prices with a formula that reflects global market fluctuations, providing farmers with greater financial stability and predictability.

Addressing the recent protests over cocoa price cuts, Mr. Jerome acknowledged farmers’ frustrations, noting that their concerns are understandable given the financial pressures they face.

The proposed reforms aim to boost farmer livelihoods, encourage continued participation in cocoa farming, and strengthen Ghana’s position as a leading cocoa-producing country.