Finance Minister Unveils New Policy to Boost Local Cocoa Processing
By Praisebell Rosemond Larbi
Government has announced a sweeping new policy aimed at significantly increasing the local processing of cocoa beans, marking a major shift in Ghana’s cocoa sector strategy toward value addition, industrialisation, and long-term sustainability.
The announcement was made by the Minister for Finance, Cassiel Ato Forson, at a press conference, where he outlined a series of Cabinet-approved directives designed to reposition Ghana from a predominantly raw cocoa exporter to a leading global processor of cocoa products.
At the centre of the new policy is a revised financing and supply model that grants the Ghana Cocoa Board (COCOBOD) the flexibility to sell cocoa beans of any volume directly to local processing companies. The move is expected to eliminate longstanding supply bottlenecks that have constrained domestic processors and limited their capacity utilisation.
According to Dr Forson, the immediate effect of the policy will be felt within the current crop cycle. Cabinet has directed that the remaining cocoa beans for the 2025/2026 crop season be prioritised for domestic processing rather than export.
“This represents a deliberate and strategic shift to ensure that more value is retained within the Ghanaian economy,” he noted.
In a further demonstration of government’s commitment, a clear medium-term benchmark has been established. Beginning with the 2026/2027 crop season, at least 50 percent of all cocoa beans produced in Ghana will be processed locally. Officials say this target will serve as a structural anchor to drive industrial expansion, deepen value chains, and reduce the country’s historical reliance on exporting raw cocoa.
As part of the implementation framework, the revival of the Cocoa Processing Company (CPC) has been identified as a priority intervention. The state-owned processor is expected to be modernised and repositioned to play a leading role in scaling up Ghana’s processing capacity and competing effectively on the global market for cocoa derivatives such as butter, liquor, and powder.
Dr Forson disclosed that he, together with the Minister for Trade, Agribusiness and Industry, has already engaged domestic processors, who have indicated both the willingness and technical capacity to process more than half of Ghana’s annual cocoa output.
“This level of industry readiness gives us confidence that the policy can be implemented immediately and successfully,” he said.
Government further confirmed that an agreement has been reached to operationalise the new measures without delay, signalling urgency and high-level political commitment to transforming the sector.
The policy is expected to unlock significant economic benefits, including increased export earnings from value-added cocoa products, enhanced foreign exchange inflows, and job creation across processing, logistics, manufacturing, and support services.
Analysts say the move aligns with broader efforts to industrialise Ghana’s economy and insulate it from commodity price volatility by capturing greater value within global supply chains.
If effectively implemented, the policy could mark a turning point in Ghana’s cocoa industry, shifting the country from a price-taker in raw commodity markets to a competitive player in high-value cocoa processing and manufacturing.
