Finance Minister Dr Cassiel Ato Forson has underscored the government’s renewed commitment to improving the livelihoods of cocoa farmers and strengthening Ghana’s local cocoa industry through targeted reforms and enhanced value addition.

Speaking to journalists after President John Dramani Mahama delivered the State of the Nation Address, Dr. Forson addressed concerns about Ghana’s cocoa pricing, particularly in comparison with neighbouring Ivory Coast, where producer prices are reportedly higher.

He explained that while pricing dynamics differ between the two countries, the government is focused on ensuring Ghanaian cocoa farmers receive better returns through sustainable measures rather than short-term adjustments that could destabilise the sector.

According to the Finance Minister, the reforms are centred on increasing local participation in cocoa processing and reviving indigenous buying companies that have either collapsed or become dormant.

He cited the Cocoa Processing Company (CPC) and the Produce Buying Company (PBC) as examples of entities that the government aims to revitalise to deepen Ghanaian ownership within the cocoa value chain.

Dr. Forson stressed that encouraging Ghanaian businesses to venture into cocoa processing would significantly enhance value addition, reduce raw bean exports, and create more jobs across the supply chain.

By processing more cocoa locally, Ghana stands to earn higher export revenues while insulating farmers from the volatility of global commodity prices.

He further indicated that strengthening local buying companies would improve competition within the sector, potentially leading to better services and pricing for farmers.

Increased local involvement, he noted, would ensure that a greater share of profits remains within the domestic economy.

On the expected impact, the Minister said the reforms would stimulate economic activity in cocoa-growing communities, boost rural incomes, and create employment opportunities, particularly for the youth.

Over time, he added, the strategy would help stabilise the cocoa sector and position Ghana as a more competitive player in the global chocolate and cocoa processing market.

Dr. Forson reaffirmed the government’s resolve to work closely with stakeholders to implement the reforms effectively, assuring farmers that their welfare remains central to national economic policy.