Ghana’s government has directed the Cocoa Board (COCOBOD) to begin immediate payments to thousands of cocoa farmers who have gone months without income, Finance Minister Dr. Cassiel Ato Forson announced Thursday.
Forson said the directive followed an emergency Cabinet meeting convened Wednesday to address what he called a “deepening crisis” in the cocoa sector.
“Cabinet has accordingly directed the Ghana Cocoa Board to commence immediate payment of all affected cocoa farmers,” Forson told reporters in Accra.
The Cabinet also approved sweeping reforms aimed at stabilizing the industry, including measures to guarantee fair producer prices, protect the financial viability of COCOBOD, and ensure long-term sustainability.
The crisis has left many farmers unpaid since November 2025, forcing some to cut meals, withdraw children from school, and abandon farm maintenance. Reports have also emerged of farmers detaining purchasing clerks over unpaid deliveries.
COCOBOD is currently burdened with about 50,000 metric tonnes of unsold cocoa at ports, while Licensed Buying Companies are owed roughly GH¢2.04 billion ($185 million).
Officials say the payment delays stem from collapsing international financing, a mismatch between Ghana’s farmgate price and falling global cocoa prices, and legacy forward contracts signed at historically low rates.
As part of reforms, the government will present a new Cocoa Board bill to Parliament. The legislation will automatically adjust producer prices in line with world market movements, exchange rates, and other key variables. It will also guarantee farmers at least 70 percent of the gross Free on Board (FOB) price.
“Cabinet has therefore decided on the following reforms to guarantee a fair price to the cocoa farmer, secure the financial viability of the cocoa sector, and ensure the long-term sustainability of the cocoa industry,” Forson said.
The Mahama administration’s emergency measures underscore the urgency of stabilizing Ghana’s cocoa industry, which remains the backbone of the national economy.
