COCOBOD's new law guarantees farmers 70% of cocoa export price

The Deputy Finance Minister, Thomas Nyarko Ampem, has presented the Ghana Cocoa Board Bill, 2026, to Parliament, saying the legislation will guarantee cocoa farmers not less than 70% of the Free on Board (FOB) export price while introducing wide-ranging reforms in the cocoa sector.

Speaking on the floor of Parliament ahead of the Bill’s passage on Thursday, July 30, 2026, Ampem said the legislation establishes the Ghana Cocoa Board (COCOBOD) as the statutory body responsible for regulating, overseeing and monitoring activities across the cocoa value chain.

He said the Bill introduces a new funding model that will enable COCOBOD to source funds locally to purchase cocoa beans from farmers while ensuring that more beans are made available to local processors.

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“This Bill is coming out with a new funding model, which will let COCOBOD source funding locally to purchase our cocoa beans from our hardworking farmers,” he said.

“This Bill is bringing out new arrangements where the beans will be available for our local processing companies,” he added.

Highlighting the benefits to farmers, Ampem said 70% of the FOB price of cocoa would go to farmers.

Ampem further noted that the legislation was intended to safeguard cocoa farms and the environment.

“The Bill is to protect our cocoa farms and environment.”

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