Government has directed that a minimum of 50% of all cocoa beans should be processed locally, starting from the 2026-2027 crop season, Finance Minister Dr Cassiel Ato Forson has announced.

Dr Ato Forson disclosed this at a press briefing on Thursday, February 12, following an emergency Cabinet meeting held the previous day to address the crisis in the cocoa sector.

The finance minister revealed that Cabinet has also ordered the immediate revival of two key state-owned enterprises—the Produce Buying Company (PBC) and the Cocoa Processing Company (CPC).

"State-owned produce buying company PBC will be revived to resume full operations and become the leading licence buying company in the cocoa sector with immediate effect," Dr Ato Forson stated.

The revival of PBC comes at a critical time when Licensed Buying Companies (LBCs) are owed about GH¢2.04 billion by COCOBOD, with some farmers going unpaid since November 2025.

Cabinet has also directed that the remainder of the cocoa beans for the current 2025-2026 crop year should be allocated for domestic processing.

This directive takes effect immediately and represents the government's commitment to value addition and job creation in the cocoa sector.

"With the new financing model, COCOBOD can sell beans of any volume to local processing companies to promote value addition and job creation," the Finance Minister explained.

From the 2026-2027 crop season, at least half of Ghana's cocoa beans must be processed locally, Dr. Ato Forson disclosed.

"Cabinet has also directed that beginning from the 2026 to 2027 crop season, a minimum of 50% of all cocoa beans should be processed locally, and this will be part of the Cocoa Board bill going to Parliament," he stated.

The mandatory local processing requirement will be enshrined in the new Cocoa Board bill expected to be presented to Parliament.

To support the increased domestic processing mandate, the government has prioritised the revival of the state-owned Cocoa Processing Company.

"Pursuant to this, the state-owned cocoa processing company CPC will be revived as a matter of priority to become the leading processor of Ghana's cocoa beans," Dr Ato Forson announced.

Currently, Ghana processes only about 30-35% of its cocoa beans locally, with the bulk exported to processing facilities in Europe, Asia, and North America.

By mandating 50% local processing, the government aims to capture more value from the cocoa sector, create employment opportunities, and reduce Ghana's dependence on raw commodity exports.

The new financing model being developed by the government is expected to provide flexibility for COCOBOD to sell any volume of beans to local processors, eliminating previous restrictions that limited domestic sales.

The revival of PBC is also expected to restore competition in the cocoa purchasing sector and provide farmers with more reliable payment options, particularly as private LBCs struggle with liquidity challenges.