ACCRA, Ghana, 13th October: President John Dramani Mahama has said the Ghana Cocoa Board Act, 2026, guarantees cocoa farmers at least 70 per cent of the world market price for their produce, providing a legal basis for determining payments to farmers.
The President said the legislation was particularly important for the Western North Region, where cocoa production remains a major economic activity and an important source of livelihood.
Speaking during a courtesy call by chiefs of the region at the Presidency, President Mahama explained that the minimum payment requirement had previously operated as a policy rather than a statutory obligation.
He said the new law made it mandatory for cocoa farmers to receive not less than 70 per cent of the international market price.
“There was a time when farmers were receiving as little as 35 per cent of the international market price. Now, the Act says they must receive not less than 70 per cent,” he stated.
According to the President, the legislation is intended to ensure that cocoa farmers received a fairer share of the value generated by their produce on the international market.
He disclosed that Ghana is currently paying cocoa farmers 71.18 per cent of the world market price, exceeding the minimum threshold established under the law.
President Mahama also explained the circumstances surrounding Ghana’s recent cocoa producer price determination, noting that the government had initially agreed with Côte d’Ivoire to consult each other before announcing their respective prices.
However, he said Côte d’Ivoire announced its price first and maintained virtually the same level as the previous year after reducing its earlier price.
President Mahama explained that Ghana’s new legislation and the increase in the international cocoa price meant the country had to ensure that farmers received at least the statutory 70 per cent share.
This, he said, had widened the price differential between Ghana and Côte d’Ivoire.
The President expressed hope that any sustained recovery in international cocoa prices would translate into higher earnings for Ghanaian farmers.
He said the law represented an important intervention to improve farmers’ incomes and strengthen the cocoa sector.
The Western North Region, which produces significant quantities of cocoa, is among the areas expected to benefit from measures aimed at improving returns to farmers.
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/ Presidential Affairs Correspondent | Ghana 🇬🇭