A new Cocoa Board (COCOBOD) Act bill will be presented by the government to Parliament – Finance Minister

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Finance Minister Dr. Cassiel Ato Forson has announced that the government will introduce a new Cocoa Board (COCOBOD) Act bill in Parliament, aimed at protecting cocoa farmers’ incomes by guaranteeing them at least 70% of the Free on Board (FOB) export price for their beans.

Speaking at a press briefing, Dr. Forson said the bill is designed to stabilise earnings for cocoa farmers amid global market fluctuations and domestic economic challenges.

“Our goal is to ensure that cocoa farmers receive a fair and predictable price for their produce.

This legislation will institutionalise a minimum 70% FOB price guarantee, which aligns farmer incomes with global market realities,” he said.

Source: newsthemegh.com