News
ILEE proposes market based reforms following cocoa producer price adjustment
- /home/u249204778/domains/spectator.com.gh/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://spectator.com.gh/wp-content/uploads/2026/02/WhatsApp-Image-2026-02-17-at-11.50.48.jpeg&description=ILEE proposes market based reforms following cocoa producer price adjustment', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/u249204778/domains/spectator.com.gh/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://spectator.com.gh/wp-content/uploads/2026/02/WhatsApp-Image-2026-02-17-at-11.50.48.jpeg&description=ILEE proposes market based reforms following cocoa producer price adjustment', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
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
President John Dramani Mahama today cut the sod for the construction of a 24-Hour Economy Model Market in Juapong, North Tongu District, marking the commencement of a transformative project aimed at boosting local commerce, creating sustainable jobs, and driving economic growth in the Volta Region.
The sod-cutting ceremony formed part of the President’s two-day ‘Resetting Ghana Tour’ of the Volta Region.
Addressing residents and stakeholders, President Mahama described the proposed facility as a modern economic centre designed to empower farmers, traders, entrepreneurs, and small businesses.
He noted that beyond serving as a marketplace, the project will provide critical infrastructure for storage, processing, packaging, distribution, digital commerce, and access to financial services.
The President reaffirmed Government’s commitment to accelerating development across the Volta Region through strategic investments in roads, healthcare, education, agriculture, transport, markets, and agro-industrial initiatives.
He highlighted Juapong’s strategic location and economic potential, indicating that the town is well-positioned to emerge as a key commercial and industrial destination within the region.
As part of the flagship 24-Hour Economy programme, the Juapong Model Market will be among the largest facilities under the initiative.
The project has been designated as a Category Four Market, the highest classification within the programme, reflecting its significance to the region’s economic transformation.
Broadcast journalist and aspiring National Democratic Congress (NDC) parliamentary candidate for Gomoa West, Blessed Godsbrain Smart, popularly known as Captain Smart, has pledged to embark on major infrastructure development if elected to represent the constituency in Parliament.
Speaking on Onua TV platform, Captain Smart said his priority would be to transform Gomoa West through extensive development projects.
“I will turn the constituency into a construction site,” he declared, stressing his commitment to improving infrastructure across the area.
Although much of his remarks focused on rallying supporters in local languages, he repeatedly assured residents that they would witness significant development under his leadership.
Captain Smart also urged party supporters to remain united and actively participate in the party’s internal activities ahead of the parliamentary primaries.
He expressed confidence in his bid and promised to work hard to improve the lives of people in Gomoa West if given the opportunity to serve as their parliamentary candidate.
By: Jacob Aggrey
