Finance Minister Dr Cassiel Ato Forson has announced that beginning with the 2026-2027 crop season, at least half of Ghana’s cocoa beans must be processed locally.
Speaking at a press briefing on Thursday, February 12, following an emergency Cabinet meeting, Dr Forson revealed that Cabinet has directed the immediate revival of two state-owned enterprises—the Produce Buying Company (PBC) and the Cocoa Processing Company (CPC).
“State-owned produce buying company PBC will be revived to resume full operations and become the leading licence buying company in the cocoa sector with immediate effect,” Dr Forson stated.
The directive comes at a time when Licensed Buying Companies are owed about GH¢2.04 billion by COCOBOD, leaving some farmers unpaid since November 2025. Cabinet has also ordered that the remainder of beans from the current 2025-2026 crop year be allocated for domestic processing.
“With the new financing model, COCOBOD can sell beans of any volume to local processing companies to promote value addition and job creation,” the Finance Minister explained.
Dr Forson further disclosed that the mandatory local processing requirement will be enshrined in the new Cocoa Board bill to be presented to Parliament.
“Cabinet has also directed that beginning from the 2026 to 2027 crop season, a minimum of 50% of all cocoa beans should be processed locally, and this will be part of the Cocoa Board bill going to Parliament,” he said.
Currently, Ghana processes only 30-35% of its cocoa beans domestically, with the majority exported to Europe, Asia, and North America. By mandating 50% local processing, government aims to capture greater value, create jobs, and reduce reliance on raw commodity exports.
The revival of CPC is expected to strengthen Ghana’s processing capacity, while restoring PBC will reintroduce competition in cocoa purchasing and ensure more reliable payments to farmers.
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