Parliamentary Committee Engages COCOBOD on Reforms, Pricing and Funding Plans

The Parliamentary Committee on Food, Agriculture and Cocoa Affairs has held discussions with officials of the Ghana Cocoa Board (COCOBOD) on key operational issues affecting the sector.

The engagement, which took place on Thursday, February 5, focused on reforms, financing challenges, and strategies to improve the cocoa industry’s performance and farmer incomes.

Chief Executive Officer of COCOBOD, Dr. Ransford Abbey, told the Committee that ongoing reforms under a proposed new COCOBOD Act would introduce a new pricing mechanism, a revised funding model, and a stronger value addition strategy aimed at addressing persistent under-recoveries and improving earnings for farmers.

He emphasised the importance of aligning Ghana’s cocoa pricing with global competitors to attract buyers and ensure farmers receive fair compensation for their produce.

According to Dr. Abbey, strong global market performance benefits consumers and helps attract buyers whose financing is critical to stabilising payments to farmers and sustaining the cocoa value chain.

Members of the Committee, led by Chairman Hon. Godfred Seidu Jasaw, commended COCOBOD officials for what they described as an educative and informative presentation. They expressed satisfaction with the responses provided and assured the Board of Parliament’s continued support through sustained engagement.