The Parliamentary Committee on Food, Agriculture and Cocoa Affairs has met with officials of the Ghana Cocoa Board (COCOBOD) to deliberate on critical issues affecting the cocoa sector.
During the engagement, COCOBOD’s Chief Executive Officer, Dr. Ransord Abbey, outlined ongoing reforms under a proposed new COCOBOD Act. He explained that the reforms would introduce a new pricing mechanism, a revised funding model, and a stronger value addition strategy aimed at improving farmer incomes and ending persistent under-recoveries.
Dr. Abbey stressed the importance of aligning Ghana’s cocoa prices with global competitors to attract buyers and ensure farmers are paid fairly. He noted that when international market prices perform well, consumers benefit, and restoring stability in farmer payments requires buyers to return and finance the crop.
Members of the Committee, led by Chairman Hon. Godfred Seidu Jasaw, commended COCOBOD officials for what they described as a highly educative and informative presentation. They expressed satisfaction with the responses provided and assured the institution of their readiness to collaborate, pledging continued support through sustained engagement.
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