Cocoa sector woes show Ghana's need for Petroleum Hub – Onasis Kobby

The Deputy Chief Executive Officer of the Petroleum Hub Development Corporation in charge of Operations and Technical, Onasis Kobby, has argued that recent developments in Ghana’s cocoa industry further validate the urgent need for the country to establish a comprehensive petroleum and petrochemical hub.

In a statement shared via his social media handles, Onasis Kobby pointed out that the challenges facing Ghana’s cocoa industry stem from the nation’s longstanding failure to add value to cocoa beans.

He noted that the continuous exportation of raw cocoa makes Ghana vulnerable to global price volatility, creating instability in the sector and adversely affecting farmers.

Onasis Kobby emphasised that the permanent solution to these challenges lies in the government’s proposed policy of processing at least half of the country’s total cocoa bean production locally.

“Watching the hardworking Finance Minister, Hon. Dr Cassiel Ato Forson, break down the issues crippling our cocoa sector and the decisive measures the government is taking to address them and prevent future recurrences has strengthened my belief that, now more than ever, Ghana needs ambitious projects like the Petroleum Hub," part of his post read.

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“At the heart of the issues outlined by Hon. Cassiel Ato Forson is that, over the years, we have not prioritised value addition and have relied solely on exporting raw beans. As a result, we remain at the mercy of volatile global cocoa prices. If prices rise, we benefit; if they plummet, chaos ensues," he added.

Onasis Kobby further said; “To prevent a recurrence of the same problems and ensure that our hardworking farmers receive fair value for their efforts in cocoa farms across the country, the John Mahama administration, through Cabinet, has directed that, starting from the 2026/2027 crop season, at least 50% of Ghana’s cocoa beans must be processed locally. In addition, the remaining beans from the 2025/2026 season will be directed toward domestic processing,” parts of his statement read.

He stated that the government’s move is built on the same foundational principle as the Petroleum Hub project, which aims to shift the country from exporting raw oil and gas to refining these resources domestically.

According to him, the Petroleum Hub represents a giant step toward preventing the kind of challenges experienced in the cocoa sector by localising the production, refining, and storage of petroleum and petrochemical products.

The Deputy Chief Executive Officer of the Petroleum Hub Development Corporation sai; “This strategic shift shares the same foundational vision as the Petroleum Hub project: moving away from merely exporting raw resources and instead adding value domestically. The new cocoa policy addresses long-standing issues such as underutilised processing capacity and price volatility by converting more beans into higher-value products (such as cocoa butter, powder, and liquor)."

“Similarly, the Petroleum Hub project is essentially a major infrastructure initiative that will enable us to convert crude oil into refined fuels, petrochemicals, and by-products - thereby reducing import dependence, creating greater economic multipliers, and driving local industrial growth,” he added.

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