COCOBOD has begun nationwide consultations to explain the new cocoa law while concerns grow over penalties for converting cocoa farms to other uses.
The legislation introduces new financing, pricing and sustainability measures while strengthening local cocoa processing and farmer support programmes.
Ghana plans sweeping cocoa sector reforms through a new COCOBOD Bill, including a 70% minimum FOB price guarantee and expanded local cocoa processing.
The agreement is expected to improve market access, support farmer incomes and strengthen agricultural trade within West Africa.
Financial projections indicate that the secured off-taker agreement is expected to generate approximately US$3.5 million annually.