By Adnan Adams Mohammed
In a sweeping overhaul of Ghana’s cocoa sector, the government has announced the immediate revival of the Produce Buying Company (PBC) and the Cocoa Processing Company (CPC).
The move is designed to re-establish state leadership in both the internal marketing and domestic processing of cocoa beans.
The announcement was made by Finance Minister Dr. Cassiel Ato Forson during a press briefing on Thursday, February 12, following an emergency Cabinet session. The reforms come at a critical time as the government seeks to stabilize the industry and guarantee fair returns for farmers amidst fluctuating global prices.
Restoring PBC as the market leader
The Produce Buying Company (PBC), once the backbone of internal cocoa purchasing, is set to resume full operations immediately. The government’s goal is to return the PBC to its status as the nation’s leading Licensed Buying Company (LBC).
“The revival of PBC is central to our strategy of supporting cocoa farmers. We want to ensure they have a reliable, transparent, and efficient avenue to sell their produce at fair prices,” Dr. Forson stated.
To support this, the government plans to inject new capital, providing the liquidity necessary for effective cocoa purchases; modernize infrastructure by upgrading storage and logistics technology to enhance operational efficiency; and protect farmer interests by ensuring timely payments to farmers, and addressing recent liquidity challenges faced by private LBCs.
CPC to spearhead 50% local processing target
Parallel to the revival of PBC, the government has prioritized the Cocoa Processing Company (CPC) to lead a massive shift toward value addition. A new directive mandates that at least 50% of all cocoa beans produced in Ghana must be processed locally starting from the 2026/2027 crop season.
“Reviving CPC is a strategic step to strengthen our cocoa value chain,” said Dr. Forson. “By processing more cocoa locally, we add value, create jobs, and ensure Ghana benefits more from its resources.”
Key Components of the CPC Revival:
Operational Upgrades: Modernizing machinery to boost production capacity.
Immediate Allocation: All remaining beans from the current 2025/2026 crop year have been directed to domestic processors to kick start the initiative.
Sustainable Benchmarking: Positioning CPC as a competitive standard for sustainable processing in West Africa.
Broader sector reforms
The revival of these two state entities is part of a larger structural “reset” for the cocoa sector. Other measures announced include:
New Pricing: The cocoa producer price for the remainder of the 2025/2026 season has been adjusted to GH¢41,392 per tonne (GH¢2,587 per bag).
Debt Management: The conversion of GH¢5.8 billion in COCOBOD legacy debt into equity to strengthen the sector’s balance sheet.
Financing Model: Replacing the 32-year-old syndicated loan model with a new domestic cocoa bond system for the 2026/2027 season.
The government maintains that these interventions will reduce Ghana’s dependence on raw cocoa exports and ensure the benefits of the industry are felt more broadly across the local economy.
