President John Dramani Mahama has summoned an emergency Cabinet meeting to address mounting challenges in Ghana’s cocoa sector. The meeting, scheduled for Wednesday, February 11, 2026, follows concerns over delayed payments to farmers, unsold cocoa beans at the Ports and financing difficulties
confronting Licensed Buying Companies (LBCs).
The Minister of State in charge of Government Communications, Felix Kwakye Ofosu, announced the decision as pressure intensifies within the industry. On February 6, 2026, the Chief Executive of COCOBOD, Randy Abbey, acknowledged payment delays and apologised to farmers, stating that COCOBOD, the Ministry of Finance and the government were working to resolve the situation.
Industry stakeholders say thousands of farmers have not been paid for cocoa delivered since November 2025. The Minority Caucus in Parliament has alleged that COCOBOD owes LBCs more than GH¢10 billion for cocoa already supplied.
Mr Abbey disclosed that although over 530,000 tonnes of cocoa have been sold this season, about 50,000 metric tonnes remain at the ports without buyers. He attributed the challenges partly to global pricing conditions.
Ghana currently pays farmers about GH¢58,000 per tonne, while world prices stood at approximately $4,200 per tonne as of February 6, 2026 — representing a 57 per cent decline compared to the same period last year. Ghana’s total production and export costs are estimated at about $6,300 per tonne.
He further noted that changes to Ghana’s cocoa financing model have compounded the difficulties. The traditional syndicated loan arrangement was unavailable for the 2024/2025 season, prompting a shift to alternative financing structures, including a 60:40 model and subsequently an 80:20 model for the
current season.
The Cabinet meeting is expected to deliberate on payment options, review pricing mechanisms and examine longer-term financing strategies aimed at stabilising the cocoa sector.