The management of the Cocoa Marketing Company (CMC) has said that the Ghana Cocoa Board Bill, 2026 does not remove the guaranteed producer price.
It said that it rather puts a minimum producer price guarantee into law.
CMC said it has noted with concerns raised about the possibility of if the Bill removing the guaranteed producer price.
However, it referred to section 57 of the Bill which establishes a statutory cocoa pricing formula and expressly provides that:
“The producer price for a crop season shall not be less than seventy per cent of the Gross Free on Board price realised by the Cocoa Board for that crop season.”
“This means the producer price cannot legally fall below 70% of the Gross FOB price realised by COCOBOD for the crop season,” CMC said.
The Bill also requires COCOBOD, when determining the pricing formula, to consult the Minister, recognised representatives of cocoa farmers, Licensed Buying Companies and other relevant stakeholders, CMC said in a statement.
The statement added that the legislation further strengthens farmer protection through a Cocoa Stabilisation and Diversification Fund, whose stated purpose includes cushioning producers against severe international price shocks.
Its provisions on hedging also expressly prioritise price stabilisation and farmer income protection over speculative gains.
So, the producer price guarantee has not been removed. It has been given an explicit statutory floor: at least 70% of Gross FOB.
