Parliament Passes New COCOBOD Law, Guarantees Farmers at Least 70% of Cocoa Export Price

Parliament has passed the Ghana Cocoa Board (COCOBOD) Bill, 2026, introducing sweeping reforms for Ghana’s cocoa industry. The new law seeks to improve farmer earnings, strengthen COCOBOD’s governance and support the sector’s long-term growth.

One of the Bill’s key provisions guarantees cocoa farmers at least 70% of the Free on Board (FOB) export price. This requirement gives legal protection to producer prices and ensures farmers receive a larger share of revenue from cocoa exports.

The legislation also creates a new legal framework for COCOBOD. It strengthens accountability, improves transparency and supports sustainable management of the cocoa sector.

Government officials say the guaranteed producer price will provide greater income security for farmers. They believe the measure will encourage higher production and greater investment in cocoa farming.

Global cocoa prices often fluctuate. Those changes can reduce farmers’ earnings. The new law aims to cushion producers by protecting their share of export revenue.

The Bill also modernizes COCOBOD’s operations. It strengthens financial oversight and improves institutional efficiency. It further promotes value addition by encouraging more local cocoa processing and industrial development.

Cocoa remains one of Ghana’s most valuable exports. The sector generates significant foreign exchange and supports hundreds of thousands of farming households across the country.

Over the years, successive governments have introduced policies to improve productivity, protect farmer incomes and maintain Ghana’s reputation as a leading producer of premium cocoa.

Industry players have welcomed the new legislation. Many believe the guaranteed producer price will boost farmer confidence and encourage long-term investment in cocoa cultivation.

Some stakeholders, however, say successful implementation will determine whether the reforms achieve their intended impact. They stress the need for sound financial management, effective oversight and continued support for cocoa farmers.

The new law marks one of the most significant reforms in Ghana’s cocoa industry in recent years. It reflects the country’s commitment to strengthening the sector while improving the livelihoods of cocoa farmers.