Cocoa is a key export commodity for Ghana
Ghana is reportedly considering a major overhaul of the long-standing pricing regime used to pay cocoa farmers, as swings in global cocoa prices have put pressure on the industry.
According to Bloomberg, Ghana is exploring a flexible pricing system that would link domestic cocoa prices to international market rates, sources familiar with the plans said.
Under the proposed mechanism, domestic cocoa prices would automatically adjust in line with changes in global cocoa prices, ensuring that farmers’ earnings better reflect market conditions.
Ato Forson to announce details on cocoa sector reforms on February 12
The sources, who spoke on condition of anonymity, said the plans are still under review and have not been publicly disclosed.
The potential reform comes amid growing calls for the cocoa sector to be more responsive to international price swings, as farmers face income uncertainty despite Ghana’s key role in the global chocolate supply chain.
MA
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