News
ILEE proposes market based reforms following cocoa producer price adjustment
The Institute for Liberty and Economic Education has welcomed the decision by the Ministry of Finance and the Ghana Cocoa Board to adjust the cocoa producer price to GH₵2,587 per bag, describing it as a difficult but necessary step to protect the financial stability of the cocoa sector.
The adjustment, announced on February 12, comes at a time of rising global market pressures and domestic liquidity challenges.
According to ILEE, the price review highlights broader difficulties in managing cocoa prices under a highly centralized system.
The institute views the development as a signal for reforms that will better link world market prices to what farmers receive locally.
The Director of Policy at ILEE, Dr. Stephen Morgan noted that while government efforts to openly address the current challenges are encouraging, more frequent and market linked price reviews would help avoid sudden and disruptive changes in the future.
ILEE therefore proposed a set of reforms it describes as a partnership for prosperity to support government efforts and protect farmers.
These include adopting a price setting formula that adjusts more regularly in line with global trends, expanding the role of Licensed Buying Companies to reduce the financial burden on the state, and giving farmers greater flexibility in how and where they sell their cocoa.
The institute believes these steps will help curb problems such as smuggling and the shift of farmlands to illegal mining.
The think tank called for stronger incentives for local cocoa processing.
It praised government efforts to promote value addition and encouraged further easing of restrictions to allow small scale Ghanaian businesses to process more cocoa locally, which could reduce pressure on exports and create additional jobs.
ILEE indicated its readiness to work with COCOBOD and the Ministry of Finance to develop a balanced framework that combines state oversight with market efficiency.
It maintains that closer alignment between local cocoa prices and global market realities will help ensure that Ghana remains a leading producer known for quality cocoa and improved farmer welfare.
By: Jacob Aggrey
The Tema Regional Police Command has arrested a 30-year-old driver, Bismark Kpormeno, for possession of a large quantity of compressed plant materials suspected to be Indian hemp.
The arrest was made on Sunday, 31 May 2026 by officers of the Tema Highway Patrol Unit during an operation along the Tema-Ada road.
According to police, the suspect was driving a Hyundai Mighty I container truck and failed to stop when signaled. He attempted to evade arrest but was pursued and apprehended at Bondase.
A search of the vehicle revealed twelve 12 sacks and eighty 80 parcels of compressed plant materials concealed in a container and wrapped in sellotape.
Preliminary investigations show the narcotics were allegedly loaded at Kpeve in the Volta Region and were being transported to Ada.
The suspect is currently in police custody assisting with investigations. The truck and exhibits have been impounded for evidential purposes.
The Tema Regional Police Command says it remains committed to combating drug trafficking and other criminal activities.
They also urged the public to support law enforcement by providing timely and credible information on suspicious activities.
Firefighters from the Peki Fire Station of the Ghana National Fire Service (GNFS) responded swiftly to a fatal head-on collision involving a Mercedes-Benz container truck (WR 1553-C) travelling from Nkwanta to Accra and a Mercedes-Benz passenger bus (GR 3215-E) travelling from Battor to Kabiti in the Oti Region.
The crash occurred at Peki-Tsame near Peki Senior High School in the early hours of Tuesday, 2nd June 2026.
A total of forty (40) persons were involved, comprising twenty-one (21) males, fifteen (15) females, and four (4) children.
Through a coordinated rescue operation, firefighters extricated 25 injured casualties, including 23 adults and two children.
Sadly, 15 persons lost their lives, made up of nine males and 6 females.
The injured were conveyed to the Peki Government Hospital for treatment, while the deceased were handed over to the Police, who conveyed them to the hospital mortuary for preservation and further investigation. The cause of the accident remains under investigation.
The Ghana National Fire Service has extended its deepest condolences to the bereaved families and urges all motorists to observe road traffic regulations, avoid dangerous driving practices, and exercise maximum caution on the roads to help prevent accidents and save lives.
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