Ghana's New Cocoa Bill Would Guarantee Farmers 70 Percent of World Market Price

President John Mahama has announced plans for a new Cocoa Bill designed to guarantee Ghanaian farmers 70 percent of the world market price for their beans, alongside a target to process at least half of the country’s cocoa locally to capture more value and create jobs. The proposal sits within a broader push to move Ghana beyond exporting raw commodities.

Mahama has paired the cocoa pledge with claims of macroeconomic recovery, citing inflation falling from 23.8 percent in late 2024 to 3.4 percent in April 2026 and reserves near US$13.9 billion. For the Ghanaian diaspora weighing investment back home, guaranteed farmgate pricing and local processing signal a deliberate industrial strategy, though the bill must clear Parliament and survive the gap between announcement and delivery.

Source: GBC Ghana Online; News Ghana.