2027 Budget: Ghana targets 100% local cocoa processing by 2030, plans to end raw bean exports – Finance Minister

The government has announced plans to process all of Ghana’s cocoa locally by 2030 as part of efforts to increase value addition, expand agro-processing and retain more revenue from the country’s cocoa industry.

Finance Minister Dr Cassiel Ato Forson said the country would increase its domestic cocoa processing capacity to at least 50 per cent by the end of 2028 before achieving full local processing by 2030.

Presenting the 2027 Budget Statement and Economic Policy to Parliament, he said the initiative would pave the way for Ghana to end exports of raw cocoa beans.

He explained that the country’s processing industry would move beyond basic grinding to the production of cocoa liquor, butter, cake, powder, chocolate, cosmetics and other finished products.

According to Dr Forson, Ghana must retain a greater share of the economic value generated from its cocoa industry by ensuring that local businesses, researchers, brands and skilled workers participate fully in the production value chain.

He said the policy formed part of the government’s broader strategy to make agriculture commercially viable while positioning agro-processing and manufacturing as key drivers of economic growth.

The Finance Minister said government would support the transformation through improved irrigation, financing for farmers, investment in processing facilities and the development of reliable markets.

He added that increasing local food production and processing would also contribute to rural development, help manage inflationary pressures and ease the concentration of economic activities in urban centres.

Dr Forson maintained that processing more of what Ghana produces and exporting finished goods would strengthen the economy and create greater prosperity for the country.

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