Nat’l Tymes News Desk
THE GOVERNMENT is moving decisively to rebuild Ghana’s cocoa industry, rolling out bold reforms and massive support to farmers as part of a renewed plan to restore growth and stability.
A key pillar of this plan is the return of the free fertilizer programme in 2026, backed by a huge GH¢5.1 billion allocation in the new budget. The initiative signals a strong commitment by President John Mahama’s administration to boost yields, reduce costs for farmers and reverse the decline the sector faced in recent years.
The Finance Minister, Dr. Cassiel Ato Forson, told Parliament that the cocoa sector is already showing encouraging signs of recovery, even at a time when global prices have softened.
Output increased from 530,783 metric tonnes in the 2023/2024 season to 603,840 metric tonnes at the close of the 2024/2025 season, a gain he attributed to targeted interventions and improved farmer support.
To reduce smuggling in the 2025/2026 season, government raised the farm-gate price from GH¢49,600 to GH¢58,000 per metric tonne. This, he said, brings Ghana’s price closer to those in neighbouring countries and reduces the economic incentive to divert beans across the border.
Dr. Forson also announced progress on the settlement of low-priced forward sales inherited from the previous season. Out of 333,000 metric tonnes rolled over from 2023/2024, some 243,000 metric tonnes have now been settled. The remaining 90,000 metric tonnes, worth about US$234 million, will be fully regularised in 2025/2026.
A major part of his update focused on COCOBOD’s finances, which have long been a source of concern. He reported that COCOBOD’s outstanding debt has dropped from GH¢32 billion in March 2025 to GH¢20.6 billion by September 2025. Payments contributing to this decline include US$130 million and GH¢3.6 billion.
Government has also tightened the cocoa roads programme, reducing the debt tied to those projects from GH¢21 billion to GH¢6.9 billion. The minister said this rationalisation was necessary to restore discipline and ensure value for money.
As part of broader structural reforms, legislative processes are underway to amend the COCOBOD Act, 1984 (PNDCL 81). The amendment will shift oversight of COCOBOD from the Ministry of Food and Agriculture to the Ministry of Finance.
According to Dr. Forson, this change will strengthen fiscal risk management, improve accountability and enhance supervision of the cocoa sector.
With the return of free fertilizers, rising production and falling debt, government says it is confident that Ghana’s cocoa industry is on a strong path to recovery and renewed growth.
Source: Nationaltymes.com
