Statistics from the regulatory body indicate a decline of over 6,000 tons in the last four years, attributed in part to farmers selling to unauthorized buyers. COCOBOD also cited increasing cocoa smuggling as a major factor contributing to the sharp drop in production.

Under the leadership of COCOBOD Chair, Dr. Ofosu Ampofo, a team engaged farmers and stakeholders in the Volta and Oti Regions to identify the causes of reduced sales to the government and discuss possible solutions.

During separate sessions, farmers pointed to delayed payments by the Produce Buying Company (PBC) as the main reason they opted to sell to individuals who pay upfront.

The Volta Oti Regional Chief Farmer, Nana Kwane Abass, also highlighted security lapses, claiming some officials are complicit in smuggling cocoa beans. “Cocoa bags don’t have wings to fly; they move along the roads, and some of these roads even have barriers, but they are not intercepted,” he lamented.

Dr. Ampofo noted that Ghana loses substantial foreign exchange due to cocoa smuggling, which adversely affects the national economy. He called for a stakeholder-driven approach to tackle the problem.

“After all the resources invested in the cocoa sector, cocoa is being freely exported to Togo or Côte d’Ivoire, which have done virtually nothing. You see the harm this is doing to the economy,” he said.

The COCOBOD Chair also highlighted the impact on government sales, explaining that production between 2023 and 2024 dropped to 450,000 metric tons from a projected 800,000 due to smuggling and other irregularities.

To address the issue of delayed payments, Dr. Ampofo encouraged farmers to trade with certified buying companies that pay upfront, which would support the country’s economy and justify government investment in the sector.

The Volta Regional Minister, James Gunu, issued a stern warning to anyone attempting to use his jurisdiction as a transit route for smuggling cocoa to Togo. “We will deal ruthlessly with those involved in cocoa smuggling. If you think you can use the Volta Region as a transit point, you better change your mind,” he said.

Similarly, Oti Regional Minister, John Kwadwo Gyapong, pledged to work with the Regional Security Council (REGSEC) to find practical ways to end smuggling and to encourage youth involvement in cocoa cultivation. He emphasized that boosting local production would increase yields while advocating for greater independence of his jurisdiction under the COCOBOD regional structure.

“REGSEC will address this issue. We will meet and find ways to combat cocoa smuggling in the Oti Region,” he stated.

He issued the caution during a visit to the palace of the Jasikanhene, who also serves as the Adontehene of the Buem Traditional Area, as part of his working tour of the Oti and Volta regions. The visit focused on engaging cocoa farmers regarding rising cases of cocoa smuggling and other activities harming the sector.

Dr Ofosu Ampofo stressed that the destruction of cocoa trees—whether for illegal mining, land development, or other commercial purposes—has severe long-term consequences. He called on communities, traditional authorities, and security agencies to take decisive action against the use of heavy machinery on cocoa farmlands.

“I want the media to capture this very well. Just three days ago, I saw a video of someone using an excavator to pull down cocoa trees, claiming that if cocoa farmers are not well paid, they will destroy the farms and do galamsey instead,” he said. “COCOBOD, under the Ministry of Finance, is submitting a new law to Parliament this October to classify cocoa trees as protected species. Anyone found destroying cocoa trees will face the full rigours of the law.”

He acknowledged farmers’ frustrations due to pricing challenges and the pressures of smuggling but urged them not to resort to destroying plantations. He encouraged closer collaboration between farmers, regulatory bodies, and security agencies to tackle smuggling activities, which have become increasingly rampant.

Farmers expressed optimism that the visit and renewed governmental attention would help safeguard their farms and stabilise the cocoa industry.

Dr Ofosu Ampofo reaffirmed COCOBOD’s commitment to pushing for stronger policies, improved security, and better support systems to protect Ghana’s cocoa sector—one of the country’s most critical economic pillars.

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The committees, the Finance Committee, the Cocoa Tertiary Education Trust and Scholarship Committee, and the Cocoa Sector Marketing Committee (COSMARC), were officially inaugurated at a ceremony held at COCOBOD Headquarters in Accra on Tuesday, October 21.

In his address, Dr. Ofosu-Ampofo described the inauguration as a major step in aligning COCOBOD’s work with the government’s Reset Agenda under President John Dramani Mahama, emphasizing the Board’s renewed commitment to discipline, efficiency, and sustainability in the cocoa sector.

He noted that the Finance Committee, chaired by Thomas Ampem Nyarko, Deputy Minister of Finance, will play a crucial role in restoring fiscal discipline amid the institution’s financial challenges, including a debt stock of about GHS 32 billion. The committee is expected to ensure transparent and responsible financial management to strengthen public confidence and guide COCOBOD toward stability.

Dr. Ofosu-Ampofo further highlighted the importance of the Cocoa Tertiary Education Trust and Scholarship Committee, chaired by Dr. Johnson Asiama, a former Deputy Governor of the Bank of Ghana. The committee will oversee the newly established Cocoa Tertiary Education Trust Fund, designed to support tertiary education, vocational training, and capacity-building opportunities for children of cocoa farmers and workers.

“Education remains a cornerstone of national development,” he said. “Through this Trust Fund, we aim to empower the next generation of cocoa farmers and equip them with the skills needed to sustain and transform the industry.”

The Cocoa Sector Marketing Committee (COSMARC), chaired by Sampson Ahi, Member of Parliament for Bodi, will be responsible for promoting transparency and fairness in cocoa marketing. Its mandate includes reviewing the performance of Licensed Buying Companies (LBCs), monitoring market trends, and proposing policies to ensure sustainability and equity across the cocoa value chain.

Dr. Ofosu-Ampofo urged committee members to engage directly with cocoa-growing communities to better understand the challenges farmers face and incorporate their insights into policy decisions.

The Chief Executive of COCOBOD, Dr. Randy Abbey, commended the establishment of the committees, noting that it aligns with COCOBOD’s broader transformation agenda aimed at building a more resilient and inclusive cocoa economy.

He said the move reinforces the Board’s commitment to maintaining Ghana’s global leadership in sustainable and quality cocoa production.

The chairpersons of the committees expressed appreciation to government and COCOBOD for the confidence reposed in them and pledged to execute their mandates with professionalism, transparency, and dedication.

The inauguration of these three committees marks another milestone in COCOBOD’s efforts to enhance governance, strengthen institutional accountability, and ensure the long-term sustainability of Ghana’s cocoa sector.

Source: AdomOnline

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Through the COCOBOD’s Special Services Department, credible information on illegal mining in cocoa farms is supplied to the security agencies for redress.

Head of Public Affairs at COCOBOD, Jerome Sam, says the institution has stepped up efforts to deal with the menace which poses a threat to cocoa sustainability.

“We also have the tree protection unit under the office of the Chief Executive, they receive complains about illegal activities, bring their reports and we also submit it to the necessary security agencies for them to follow up,” he emphasized.

It is estimated that at least 35,000 hectares of cocoa farms have been destroyed by illegal mining activities.

This is among reasons for the decline in cocoa production in the country.

Though some farmers have willingly given out their farms to miners, many are forcefully taken over.

The COCOBOD says it is strengthening systems to deal with invasion of farms to safeguard the industry.

The COCOBOD is enhancing other factors to improve productivity.

Already, distribution of fertilizers and other inputs are being rolled out for farmers.

“We know fertilizers are coming and agro chemicals as well, but they want it in certain quantities which we have agreed to supply,” he added.

Meanwhile, cocoa farmers have lauded the recent increase in prices of cocoa but called for the strengthening of measures to deal with illegal mining.

Source: Nana Yaw Gyimah

In a statement, COCOBOD announced that under the initiative, anyone who provides credible information leading to the arrest and confiscation of smuggled cocoa will receive one-third of the value of the seized goods.

“Informants and anti-smuggling agents will receive one-third of the assessed value of confiscated cocoa as their reward,” the statement said.

The Board said the reviewed reward scheme is aimed at sustaining the country’s anti-smuggling efforts and encouraging citizens to play an active role in protecting Ghana’s cocoa industry.

“This reviewed scheme is designed to ensure the sustainability of the anti-smuggling campaign while maintaining strong public participation in the collective effort to curb cocoa smuggling,” the statement added.

Cocoa smuggling has become a growing threat to Ghana’s economy, depriving the nation of export revenue and undermining the livelihoods of legitimate farmers.

Smugglers often take advantage of price differentials between Ghana and neighbouring countries, moving beans illegally across borders for higher profits.

“Cocoa smuggling continues to deprive the nation of revenue and denies value chain actors the full benefits of their hard work,” COCOBOD revealed.

The Board emphasized the need for community collaboration, particularly in border and hotspot areas, to protect Ghana’s “premium cocoa” from being lost to illicit trade.

It also urged citizens to report suspicious activities through the Special Anti-Smuggling Task Force hotline — 0308-040-107.

“All reports will be treated with strict confidentiality, and rewards will be paid without undue delay,” the statement assured.

COCOBOD reaffirmed its broader mission to safeguard the country’s cocoa sector from threats that endanger farmers’ livelihoods and Ghana’s economic stability.

“COCOBOD reiterates its commitment to protecting the cocoa sector for the benefit of farmers, the economy, and the future of Ghana’s cocoa industry,” it said.

Source: Emmanuella Ewurabena Acquaye

The country this year decided to start its cocoa season in August, two months ahead of the norm, to appease farmers who fetch a government-set price for their crop.

Arrivals of the chocolate-making ingredient in the four weeks ending Sept. 4, reached 50,440 metric tons, compared to about 11,000 tons delivered in the same period in 2024, according to people familiar with the matter.

The world’s No. 2 producer raised the amount it pays farmers for their cocoa beans by 4.2% to 3,228.75 cedis ($261) per 64-kilogram bag in the current 2025-26 season.

That’s expected to lower the incentive to smuggle beans to nearby nations where prices are higher.

The market is watching supplies from West African growers closely after a series of back-to-back poor harvests fueled a huge global shortage that sent New York futures soaring to a record last year.

While a small surplus is expected in the current 2024-25 season, the market remains tight and prices are well above historical levels.

Most of the beans delivered to warehouses are destined for export, though some are sold to local processors.

Ghana has forecast a cocoa crop of 650,000 tons in the 2025-26 season, up from the 600,000 tons in the previous harvest.

A spokesperson for Cocobod, the national regulator, declined to comment.

The world’s top grower, Ivory Coast, where farmers’ pay is also set by the government, is expected to announce an increase in its farmgate prices for the new season that starts from Oct. 1.

Ghana’s fight to control smuggling has shown some progress.

A new funding model, where top exporters are helping finance purchases, has also improved the tracking of beans from farms, the people said, asking not to be named because they’re not authorized to discuss the matter.

Source: Bloomberg

Former Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo, has strongly criticised former Minister of Food and Agriculture, Bryan Acheampong, over claims that he introduced the policy abolishing syndicated loans for cocoa purchases.

In an interview on Adom FM’s Dwaso Nsem, Mr. Aidoo accused the New Patriotic Party (NPP) flagbearer hopeful of intellectual thievery.

In a viral video, the Abetifi Member of Parliament told NPP delegates that the self-financing model was his vision, one that has saved the country millions. However, Mr. Aidoo has vehemently rejected the claims.

According to him, Dr. Acheampong, during his tenure as Agric Minister, “vehemently opposed” the initiative and had wished it dead from its inception.

“Ordinarily, I wouldn’t have spoken about this matter, but this was my own initiative. I realised it would help Ghana and benefit COCOBOD, and that was why I brought it forward.

“So if someone comes out to say he is the originator and doesn’t give any credit to me, academically, it is not right, and it amounts to thievery. I am also an intellectual; I teach at the university, and taking something that belongs to someone without credit amounts to intellectual thievery,” he stated.

He further emphasized that the shift from Ghana’s 32-year dependence on syndicated offshore loans was his “brainchild,” developed with his management team and endorsed by the COCOBOD Board of Directors.

Mr. Aidoo has therefore urged Dr. Acheampong to refrain from taking credit for a policy he claims to have opposed at every stage.

Source: Gertrude Otchere

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The policy, championed by then COCOBOD CEO, Joseph Boahen Aidoo, sought to move COCOBOD away from its traditional and much-criticised syndicated loan system to a new, sustainable financing model designed to reduce mounting debts.

However, it faced stiff opposition from the sector minister.

According to highly placed cabinet sources from the Akufo-Addo administration, Bryan Acheampong, with the support of the Finance Ministry, strongly resisted the proposal.

Their opposition led to a compromise announcement of a “middle-ground” approach, described by Acheampong at the time as a way to “complement” the syndicated loan system.

Contrary to his earlier position, a video has now emerged of Acheampong claiming credit for the very funding model he opposed, a move that has drawn sharp criticism from individuals familiar with his stance and his clashes with the former COCOBOD management over the matter.

Insiders from the former government, including Michael Kwesi Aidoo, MP for Oforikrom and son of the former COCOBOD CEO, have expressed shock at Acheampong’s apparent U-turn.

“What a turn of events! They say ‘vindication is in the womb of time,’ and watching this video left me absolutely stunned,” Aidoo wrote, recalling how his father faced fierce resistance over the new proposal and even drafted a resignation letter at one point.

“I still remember how the former CEO of COCOBOD nearly resigned over the new financial model and the cancellation of the syndicated loan, due to opposition from those so-called ‘latter-day prophets.’ In his frustration, he even drafted his resignation letter, ready to submit it. It was only thanks to the timely intervention of one determined woman on the board that he reconsidered,” he revealed.

Aidoo added: “He truly believed the new model was the way forward after years of borrowing, despite the vehement protests. I can only imagine how my younger brother, a financial analyst who helped build that model, must be cringing now.

“I can imagine how J.B. will be feeling right now. And all those who know the untold story, how are they feeling today? The NDC government is now using the model — a model we couldn’t campaign on because of the opposition to it. Negative media was even sponsored against it. God! Thank you for life. Indeed, it’s a good time to be alive. Astonishing!”

Other former government insiders have also criticised Acheampong’s claims.

“I have watched a video of Bryan Okai Acheampong claiming credit for COCOBOD’s decision not to pursue a syndicated loan,” wrote Fred Gakpo Etse.

“It is imperative that Bryan Okai Acheampong, MP for Abetifi, ceases attributing the ingenuity of the former COCOBOD boss to himself and refrains from taking credit for a decision he opposed.

“How can Bryan claim credit for something he vehemently opposed? Something he openly disagreed with in Cabinet? Something he openly opposed at the Finance Committee of the 8th Parliament? Is he not aware that there are living witnesses?”

Both Aidoo and other commentators have shared links to local and international reports showing how Acheampong and the Finance Ministry had publicly confirmed the continuation of the syndicated loan policy, in direct contradiction to COCOBOD’s proposal, which was pushed by the then CEO.

Source: Myjoyonline

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The engagement, part of Dr. Abbey’s schedule at the ongoing Expo in Japan, brought together executives from major firms including Glico and Itochu.

During the discussions, Dr. Abbey reaffirmed Ghana’s commitment to maintaining a steady supply of cocoa beans to the Japanese market, which currently accounts for nearly 70 percent of Japan’s cocoa imports.

He also briefed the companies on measures COCOBOD is implementing to tackle key challenges such as the Cocoa Swollen Shoot Virus Disease (CSSVD) and the impact of illegal mining on cocoa farms.

Highlighting the importance of collaboration, Dr. Abbey invited Japanese partners to support COCOBOD’s rehabilitation programmes aimed at boosting yields and ensuring a sustainable supply of premium cocoa.

Executives from the Japanese firms welcomed the proposals and pledged to continue supporting COCOBOD’s initiatives, acknowledging the critical role of Ghanaian cocoa in their production value chain.

Dr. Abbey was accompanied by Mr. Ato Boateng, Deputy Chief Executive in charge of Finance and Administration; Mr. Jerome K. Sam, Head of Public Affairs; and Mr. Sulemana Wahab from the Office of the Chief Executive.

Source: Kwame Kulenu

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According to JoyBusiness sources, the full amount will not be released at once but disbursed in tranches, with a significant portion expected before the end of the year. The arrangement is designed to secure COCOBOD’s commitment to meet bean supply obligations.

COCOBOD’s New Financing Model

In 2023, COCOBOD rolled out a new funding model for cocoa purchases, which requires international buyers to deposit at least 60% of the value of their forward contracts at the beginning of the season.

This model replaced the three-decade-old pre-export syndicated loan facility from international banks. Under the new arrangement, part of the traders’ deposits is channeled through licensed cocoa buying companies (LBCs), which are financed by the traders to purchase beans, with COCOBOD serving as the intermediary.

Boost For The Cedi

Analysts believe the cedi will be among the biggest beneficiaries of the inflows, as they are expected to significantly improve the Bank of Ghana’s international reserves.

As of July, the Bank of Ghana reported reserves of $11.1 billion in its Economic and Financial Data.

Speaking to JoyBusiness’s George Wiafe, Governor of the Bank of Ghana, Dr. Johnson Asiama, said the inflows should reassure the market of the central bank’s capacity to intervene when necessary to meet the demands of businesses and commercial banks.

“This development demonstrates a favourable outlook for the cedi despite recent pressures. As regulator, we have taken the needed actions to ensure that things do not get out of hand,” Dr. Asiama stated.

He stressed that Ghana’s macroeconomic fundamentals remain solid and should boost business confidence in the cedi’s stability and the ongoing measures to strengthen market liquidity.

JoyBusiness has also gathered that Ghana could receive additional inflows from development partners, which would further consolidate the country’s external reserves.

Source: JoyBusiness

He explained that the funds form part of a new financing arrangement introduced by COCOBOD to support cocoa purchases for the new crop season.

Speaking in an exclusive interview with Joy Business’ George Wiafe, Dr. Asiama noted that the inflows will boost the Bank of Ghana’s reserves and strengthen its capacity to support the local currency in the coming weeks.

According to him, the development will also signal to the market that the central bank is well-positioned to intervene when needed to meet the demands of businesses and commercial banks.

The Bank’s Economic and Financial Data released in July put Ghana’s international reserves at $11.1 billion.

COCOBOD’s New Financing Deal

In 2023, COCOBOD introduced a new funding model for cocoa bean purchases, requiring global traders to deposit at least 60% of the value of their forward contracts at the start of the season.

This system replaces the pre-export syndicated loan from international banks, which had been in place for over three decades.

Under the arrangement, part of the traders’ deposits is used to finance purchases from farmers through partnerships with licensed cocoa buying companies (LBCs). Traders provide funds to LBCs to purchase cocoa, while COCOBOD serves as an intermediary.

Cedi’s Outlook

Dr. Asiama expressed optimism about the outlook for the Ghana cedi despite recent pressures.

“As regulator, we have taken the needed actions to ensure that things do not get out of hand,” he assured.

He maintained that Ghana’s macroeconomic situation remains solid, giving businesses confidence in the cedi’s stability as well as in ongoing measures to improve market liquidity.

“Our net international reserves have not run out, and all the indicators point to a favourable outlook. We currently have it,” he stressed.

The Governor further assured that through “discipline, transparency, and firm regulation,” the central bank will create a market where the cedi can trade freely but predictably, anchored in confidence.

However, he cautioned that individuals exploiting loopholes—whether through offshoring, fueling the black market, or filing fake import forms—will face sanctions.

Source: Abubakar Ibrahim

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Speaking on JoyNews’ Newsfile, Mr Bentil drew on the history of the University of Ghana as an example of how cocoa revenues were once put to strategic national use.

“In fact, the building of the University of Ghana, if you know the history of it, came from a simple idea: let’s take a bit of money from each cocoa bag,” he explained. “That’s why we have that institution there. That’s why it’s named Akuafo Hall.”

He contrasted that vision with the current state of affairs, accusing Accra-based elites of hijacking the benefits of cocoa revenue.

“People sitting in Accra who can’t tell the difference between a cocoa tree are the ones benefiting,” he said.

“It does not make sense to take the money of poor, hardworking farmers and give it to Accra-based, suit-wearing people sitting in air-conditioned offices.”

Mr. Bentil singled out COCOBOD for particular criticism, describing it as an institution that has outlived its usefulness and now serves mainly to maintain a bloated bureaucracy.

“Look at the number of people working in COCOBOD, and for these people not to be helping the farmers but essentially sapping them and sapping them dry,” he argued.

He went further to suggest that dismantling the institution could in fact benefit the country. “If we collapse COCOBOD today, Ghana’s economy will be better, and farmers will be better. They can organise themselves absolutely,” he concluded.

Source: Emmanuel Tetteh

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In a statement dated August 20, 2025, COCOBOD clarified that Ghana’s official producer price stands at ₵3,228.75 per 64kg bag (₵51,660 per tonne or US$5,040/MT), compared to Côte d’Ivoire’s ₵2,553.38 per bag (₵40,854 per tonne or US$3,886/MT).

This means Ghanaian farmers earn an additional ₵675.38 per bag (US$64.16) and over ₵10,800 per tonne (US$1,154) compared to their Ivorian colleagues.

On a per kilo basis, Ghanaian farmers take home ₵51.65 (US$5.04), while those in Côte d’Ivoire receive ₵40.85 (US$3.89).

COCOBOD stressed that the pricing policy demonstrates its commitment to rewarding farmers fairly, protecting them from exchange rate shocks, and discouraging smuggling.

“Ghana’s cocoa remains the global benchmark for quality, and now, backed by the highest farmgate price in West Africa, it also guarantees better livelihoods for our farmers,” the statement read.

The Board further described reports suggesting Côte d’Ivoire offers better prices as “factually inaccurate and misleading.”

Source: Adomonline

Source: AdomOnline

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Their call follows the recent producer price adjustment, which they say fails to reflect the hard work they put into cocoa farming, a problem they believe stems from the politicisation of the industry.

For farmers like Samuel Tobi, an award‑winning cocoa farmer, the future of cocoa determines the future of his entire livelihood. Owning 36 acres of cocoa farms of three different farms, including “Otabil Nkwanta,” Mr. Tobi has dedicated his life to producing quality beans for Ghana and the world at large.

But he fears politics is creeping too deeply into the heart of the industry. He believes politics must stay out of Cocoa management.

“When a new government comes, they change cocoa prices and even swap out the experts who know the work, it is affecting us cocoa farmers. Some of these officials have the knowledge and experience, but because of politics, they are removed. COCOBOD should not be politicized in any way,” he asserted.

The government recently announced an increase in the producer price of cocoa, a welcome rise, but still short of the 70% promised farmers.

Mr. Tobi stressed that he accepts the increase “in good faith,” but reminds policymakers that farmers’ costs are also rising. From foodstuffs they buy in the market to hired labor, every cedi spent on the farm and their household eats into profits.

The government officially reintroduced the free fertilizer cocoa programme which seeks to reverse previous challenges where farmers could not afford inputs, undermining productivity and being a reason the cocoa increment did not match the exact percentage promised.

Mr.Tobi is also passionate about hand pollination, a critical farming practice that can double yields if done properly. Hand pollination helps produce more pods and better harvests.

Because most cocoa farmers in Ghana are over 50 years old and 60% being men and 40% women according to statistics, eyesight problems often make hand pollination difficult.

The Cocoa Management System (CMS) pruning education coordinator at Assin Fosu District, Ayiku Abdul Raman Tetteh, emphasized that good eyesight is essential for removing pollen grains from cocoa flowers using forceps.

“We train young people because many older farmers cannot see well enough to do the work,” he said. “The training is free, but when pollinators work on a farm, the cost depends on the farmer’s ability to pay,” he added.

These young pollinators not only help increase yields but also keep farms productive despite the aging farmer population. Abdul Rahman stressed that the management even mediates disputes between farmers and pollinators to ensure the work continues smoothly.

The German development agency, GIZ, plays a key role in strengthening Ghana’s cocoa sector. By training journalists, supporting farmers, promoting sustainability, and improving value chains, GIZ partners with COCOBOD’s Cocoa Health and Extension Division, and farmer cooperatives to make cocoa production more profitable, and sustainable.

For Tobi Samuel, the message is clear, Ghana’s cocoa farmers don’t just need good prices, they need stability, protection from political interference, and practical support.

He believes protecting cocoa is protection of the future.

Government on Monday, August 4, pegged the new price at GH₵3,228.75 per 64kg bag, up from last year’s GH₵3,100. But Mr. Boafo insists the increment falls short of what was promised by the Mahama-led administration.

“I first saw it on the internet that it is a 60% increase, and I even thought it should be 90% given that they promised to pay GH₵6,000,” he said in an interview on Adom FM’s Dwaso Nsem.

He also questioned why the government was quoting the price in dollar terms, when cocoa is purchased locally in cedis.

“We don’t buy cocoa in dollars, so why would we be talking to the farmer about dollars in a new pricing window? What they are doing is that if you can’t convince them, you confuse them, and that is what the government is doing. But the farmers will not be confused because they know the past prices from GH₵1,380 to GH₵3,100. They know how far the prices have gone.”

Mr. Boafo maintained that based on earlier promises, farmers should be earning significantly more now.

“They told us they would give us GH₵6,000, and that was based on last year’s figure, which was GH₵3,100. So by now, they should be paying the farmers GH₵12,000.”

He also took issue with government’s explanation that rollover contracts had affected pricing. COCOBOD’s Acting CEO, Dr. Ransford Abbey, had revealed the institution was facing $1.3 billion in losses due to undelivered forward contracts from the 2023/2024 season.

Dr. Abbey noted that 333,767 tonnes of cocoa were sold at $2,600 per tonne but were not delivered. The board is now fulfilling those contracts in the 2024/2025 season while global prices hover around $6,600 per tonne.

But Mr. Boafo disagreed with the figures.

“The prices varied, and there is no way anyone can sell 100,000 metric tonnes of cocoa in a day. We sold as high as $12,000, so why would he use $2,000, which is the lowest figure? Or does he have something to hide?”

He called for full disclosure on the cocoa sales.

“He should give us the breakdown for the sale of the 100,000 metric tonnes, because we didn’t sell all for $2,000. He is using that amount because it inures to the benefit of the government.”

Source: Gertrude Otchere

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Speaking on Asempa FM’s Ekosii Sen show, Dr. Abbey cited the absence of the annual syndicated loan and the need to discourage hoarding by some farmers as key reasons for the decision.

“Last season we opened in September. We’ve observed that some farmers hoard cocoa in anticipation of a new price. This year, because we are not doing syndication, we’ve decided to open the season even earlier,” he explained.

He further stated that the early opening is part of efforts to meet critical financial obligations, including the repayment of cocoa bills.

“We have commitments, including cocoa bills worth GH¢2 million due in September, and the funds must reflect in our accounts by August,” Dr. Abbey noted.

The decision, he added, is expected to stabilize cocoa supply and support COCOBOD’s financial planning in the absence of the syndicated loan facility.

Source: Farida Seidu | Adomonline

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Speaking on Asempa FM’s Ekosii Sen show, Dr. Abbey said the omission was one of several critical lapses he uncovered upon taking office.

“For six quarters, COCOBOD did not provide financials to SIGA, and I haven’t seen a single letter from SIGA demanding those documents,” he stated.

He further revealed that even Parliament and the transitional team were unaware of key financial commitments and contract arrangements.

“Roll-over contracts were not in the handing-over notes, not disclosed to the transitional team, and Parliament was not aware,” he said.

Dr. Abbey explained that these issues only came to light after he directed all departments to make detailed presentations on their operations. It was during this internal audit that the rollover contracts and other discrepancies were identified.

He also revealed a significant supply shortfall in the 2023/2024 cocoa season.

“In the 2023/24 cycle, COCOBOD sold cocoa but was unable to supply 333,767 tonnes. I informed the President and the Minister of Agriculture about this development, which is why the President included it in his State of the Nation Address,” Dr. Abbey explained.

He emphasized that the gaps in reporting and transparency were being addressed under his leadership to restore accountability and strengthen the institution’s governance structure.

Source: Farida Seidu | Adomonline

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Speaking on Asempa FM’s Ekosii Sen show, Dr. Abbey disclosed that the government has directed COCOBOD to refocus on its core mandate of improving the cocoa sector and withdraw from road construction projects.

“We are no longer in charge of cocoa roads,” he stated.
“The government’s decision is for COCOBOD to focus on its core functions. Our exposure to cocoa roads is GH¢21 billion, but the Ministry of Roads and Highways already has a commitment of GH¢67 billion, and COCOBOD’s financial strength cannot accommodate this.”

Dr. Abbey clarified that any future involvement in road infrastructure would be handled by the Roads Ministry, once COCOBOD’s financial position strengthens.

He further explained that the identification and prioritisation of critical cocoa roads will now be the responsibility of the government, allowing COCOBOD to channel its resources into boosting cocoa production and value addition.

“All liabilities arising from the road contracts will be addressed in collaboration with the Finance Ministry,” he added.

Source: Farida Seidu| Adomonline

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The new rate reflects a 62.58% increase in dollar terms.

The decision was made by the Producer Price Review Committee (PPRC), chaired by the Finance Minister, Dr. Cassiel Ato Forson, ahead of the new cocoa season set to open on Thursday, August 7, 2025.

The announcement follows the completion of pricing review work by technical committees and broad stakeholder consultations.

President John Mahama, speaking in July, reaffirmed his administration’s pledge to ensure cocoa farmers receive at least 70% of the world market price—a policy he said aims to restore fairness and dignity to farmers who form the backbone of Ghana’s agricultural sector.

As of Sunday night, August 3, 2025, cocoa was trading at approximately US$7,555 per tonne on the international market.

In contrast, the previous New Patriotic Party (NPP) administration had pegged the Free on Board (FOB) value for the 2024/2025 season at US$4,850 per tonne, setting the producer price at US$3,100—representing just 63.9% of the FOB, despite higher global prices at the time.

According to government sources, the latest gross FOB value is based on outstanding contracts covering 100,000 tonnes of cocoa sold at US$2,600 per tonne during the 2023/2024 season, as well as price forecasts for the upcoming season.

Using an average exchange rate of GH₵10.25 to US$1, the new producer price translates to GH₵51,660 per tonne, up from GH₵49,600. This equals GH₵3,228.75 per 64kg bag.

In addition, the PPRC has approved revised margins and fees for all stakeholders in the cocoa value chain, including licensed buying companies, hauliers, warehouse operators, and quality control units.

Source: Adomonline.com

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Joy Business understands that the announcement will proceed following the completion of work by the various committees tasked with reviewing the pricing structure, as well as after extensive stakeholder consultations.

There are strong indications that the new price will reflect a significant increase in dollar terms.

However, uncertainty remains about the actual value of the new price in Ghana cedi terms, given the recent sharp appreciation of the cedi against the U.S. dollar over the past few months.

Currently, the producer price stands at GH¢3,100 per 64kg bag and GH¢49,600 per tonne.

Government is pressing ahead with the new pricing ahead of the official opening of the 2025/2026 cocoa season on Thursday, August 7, 2025.

President John Mahama, speaking last month, reiterated his administration’s commitment to ensuring cocoa farmers receive at least 70% of the world market price. He said this policy is aimed at restoring dignity and fairness to the farmers who form the backbone of Ghana’s agricultural economy.

As of last night, cocoa was trading at approximately $7,555 per tonne on the global market.

However, a major concern remains the real value of any increase in local currency terms, especially in light of government claims that it has been subsidising cocoa prices for the past five months, paying nearly 90% of the global market price directly to farmers.

Speaking on JoyNews’ PM Express Business Edition, Chief Executive of COCOBOD, Dr. Randy Abbey, expressed concern about how the cedi’s appreciation could impact farmers’ real incomes.

“What we are seeing now is a situation where global prices are high, and that would normally translate into higher incomes for our farmers. But with the cedi appreciating sharply, the gains could be reduced when translated into Ghana cedi,” Dr. Abbey explained.

Source: Joy Business

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Joy Business understands that this came out after the technical committee on producer price completed its work for the government’s consideration.

Joy Business further learnt that the new crop season will start on August 7, 2025.

Sources say the Finance Minister, Dr. Cassiel Ato Forson, is expected to announce the new producer price in the coming days.

The producer price is currently pegged at GH¢3,100 per kilogramme per bag and GH¢49,600 per tone

Government on new producer price

President John Mahama, earlier this month, announced that his administration’s commitment to ensuring that cocoa farmers in Ghana receive at least 70% of the world market price for cocoa is aimed at restoring dignity and fairness to the backbone of Ghana’s agricultural economy.

The Chief Executive of COCOBOD , Dr. Randy Abbey also in a recent interview on PM EXPRESS BUSINESS edition, expressed worry about the impact of the sharp appreciation of the cedi on real earnings of farmers.

He acknowledged that while the price per ton is set to rise substantially in dollar terms, the relative strength of the cedi could dampen the expected benefits for cocoa farmers when converted to local currency.

“What we are seeing now is a situation where global prices are high, and that would normally translate into higher incomes for our farmers. But with the cedi appreciating sharply, the gains could be reduced when translated into Ghana cedi,” Dr. Abbey explained.

Source: Joy Business

Prior to the start of the season, COCOBOD projected a target of 610,000 metric tonnes of cocoa beans. However, with only a few months remaining, production currently stands at 590,000 metric tonnes.

Speaking on PM EXPRESS BUSINESS EDITION with host George Wiafe, the Chief Executive of COCOBOD, Dr. Ransford Abbey, said, “I don’t think that much will change, looking at the time we have to end the crop season.”

He added, “We could do about 600,000 [metric tonnes] at most, considering the fact that we’re now in the light crop season and we don’t see things turning around that much.”

Outlook for 2025/2026 Season

Despite the shortfall, Dr. Abbey remains optimistic about the 2025/2026 crop season, citing interventions aimed at boosting yields and motivating cocoa farmers.

“We will also look at some innovative measures to encourage the farmers to improve their yields,” he stated, adding that government initiatives are also expected to contribute positively to production levels in the next crop season.

Addressing COCOBOD’s Rising Debt

Dr. Abbey disclosed to JoyBusiness that COCOBOD is currently burdened with debts amounting to GHS33 billion. However, he expressed confidence in the organisation’s ability to reverse its financial fortunes by the end of 2028.

“We are hoping that in four years, the books will be looking good, in terms of returning COCOBOD to some good profits,” he said.

He further revealed that COCOBOD will implement cost-cutting measures to improve its financial standing in the years ahead.

Dr. Abbey disclosed that Cocobod has not secured a syndicated loan for the 2025/2026 crop season—a decision that has triggered a financing crisis for local cocoa buyers.

“Something is happening with the LBCs, especially the indigenous ones, which has to do with the fact that we are not doing the syndicated loan. We are not doing 2025/26,” he told George Wiafe on Joy News’ PM Express Business Edition.

He explained that the absence of the annual syndicated loan has created a liquidity vacuum, particularly for local companies that traditionally depend on Cocobod’s seed money to purchase cocoa beans during the harvest season.

“Under the syndicated loan, Cocobod creates what we call the seed money. And this seed money is what is given to the LBCs to go and purchase the beans,” he said.
“But 2024/25, low syndicated loans—so no seed fund.”

Dr. Abbey noted that while avoiding the syndicated loan may save Cocobod some financing costs, the move is having devastating consequences for smaller, local players.

“Although it is saving Cocobod in terms of the financing cost… if we were to go for a syndicated loan, Cocobod would be looking at maybe GH¢3 billion or GH¢3.5 billion. And because of the nature of our finances, you even have banks asking for 8% to 10% on $1,” he explained.

The impact, he warned, is already being felt across the cocoa purchasing chain.

“Now the indigenous LBCs are unable to operate because there’s no seed money.”

In response to the looming crisis, Cocobod has engaged the Bank of Ghana for a possible policy intervention using the Cash Reserve Ratio.

“One of the things we’ve done is to engage the central bank, and they asked for a follow-up letter. I’ve done that,” he revealed.

Dr. Abbey proposed that a small portion of the mandatory reserves banks hold with the central bank—currently 25% of customer deposits—could be allocated to support indigenous cocoa buyers.

“What I then told the central bank was that, look, you have the Cash Reserve Ratio, where all the banks put 25% of their deposits at the central bank. This is idle, not doing anything,” he said.

“Can we look at apportioning 2% or 3% of this Cash Reserve Ratio just to support indigenous LBCs?”

He further suggested that any such funds be ring-fenced exclusively for cocoa purchases.

“We can restrict it to cocoa purchases, just to ensure that they also don’t go using it for oil, tin tomatoes, and all those things.”

Dr. Abbey expressed hope that a positive response from the central bank would provide a lifeline to struggling local cocoa buying firms, whose survival is now in doubt.

“We believe that if there’s a positive response, it will be able to help, especially the indigenous LBCs. Otherwise, if we continue with this financing model, I fear that most of them might go extinct.”

His comments come as Cocobod shifts from the syndicated loan system to a 60-40 financing model with international buyers for the 2025/26 season—a change that, he noted, compelled him to travel to Europe and North America to engage buyers directly.

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Speaking on PM Express Business Edition on Joy News, Dr. Abbey revealed that the absence of a syndicated loan for the 2025/2026 cocoa season is putting local operators under severe strain.

“Something is happening with the LBCs, especially the indigenous ones, which has to do with the fact that we are not doing the syndicated loan,” he stated.

COCOBOD traditionally secures syndicated loans to create a “seed fund” for LBCs, enabling them to purchase cocoa beans from farmers. However, for the 2024/2025 crop season, this arrangement was not pursued.

“But 2024/25, low syndicated loans, so no seed fund,” he explained. “Now the indigenous LBCs are unable to operate because there’s no seed money.”

Although skipping the loan facility may reduce Cocobod’s financing costs, Dr. Abbey noted the trade-off is proving detrimental to local firms. He added that the cost of borrowing on the international market has become too steep.

“Mind you, because of where the prices are today, if we were to go for a syndicated loan, Cocobod will be looking at maybe GH¢3 billion or GH¢3.5 billion. And because of the nature of our finances, you even have banks asking for 8% to 10% on $1,” he disclosed.

To address the crisis, Dr. Abbey said he has engaged the Bank of Ghana and made a formal request for assistance.

“One of the things we’ve done is to engage the central bank, and they asked for a follow-up letter. I’ve done that,” he said.

He proposed that a portion of the Cash Reserve Ratio—25% of deposits held by commercial banks at the central bank—could be redirected to support indigenous LBCs.

“You have the Cash Reserve Ratio, where all the banks put 25% of their deposits at the central bank. This is idle, not doing anything,” he said. “Can we look at apportioning 2% or 3% of this just to support indigenous LBCs?”

Dr. Abbey recommended that any funds released should be strictly ring-fenced for cocoa purchases.

“We can restrict it to cocoa purchases, just to ensure that they also don’t go using it for oil, tin tomatoes and all those things,” he said.

While he remains hopeful of a favourable response from the Bank of Ghana, Dr. Abbey cautioned that the window for intervention is closing.

“If we continue with this financing model, I fear that most of them might go extinct,” he warned.

The anticipated increase comes as part of efforts to align local prices with gains in the global cocoa market, which has seen record-high prices in recent months.

However, the Ghana Cocoa Board (COCOBOD) has raised concerns about how the sharp appreciation of the Ghanaian cedi may affect the real earnings of farmers, despite the dollar hike.

Speaking on PM Express Business Edition, the Chief Executive of COCOBOD, Dr. Randy Abbey, acknowledged that while the price per ton is set to rise substantially in dollar terms, the relative strength of the cedi could dampen the expected benefits for cocoa farmers when converted to local currency.

“The truth is that we are convinced and it is going to happen. On the dollar side, we will see in its impact. Based on the strength of the cedi, in cedi terms, you may not see anything significant. What we are seeing now is a situation where global prices are high, and that would normally translate into higher incomes for our farmers. But with the cedi appreciating sharply, the gains could be reduced when translated into Ghana cedi,” Dr. Abbey explained.

Dr. Abbey stressed that COCOBOD remains committed to protecting the welfare of cocoa farmers and is currently assessing mechanisms to ensure they still receive a fair and impactful increase in earnings.

“We must strike a balance. Farmers deserve to benefit from the favorable market conditions, and we are working with stakeholders to ensure the final producer price reflects both global trends and domestic realities,” he added.

The development comes amid broader discussions on how currency volatility and inflation impact primary producers in Ghana’s key export sectors.

Cocoa remains a major foreign exchange earner for the country, and ensuring that farmers receive fair compensation remains central to both economic and social policy.

Speaking on PM Express Business Edition on Joy News on Thursday, June 5, he painted a sobering picture of COCOBOD’s financial position, highlighting staggering debt levels, pending obligations, and the burden of legacy contracts.

“Our first task was to look at how we’re going to deal with it, and the projections we made were that by year four, we should be fine,” he said. “Now we have to redo the books in view of the cedi appreciation.”

Dr. Abbey revealed that the last time he checked, COCOBOD’s total liabilities stood at close to $33 billion.

He, however, noted that this figure might slightly reduce depending on the performance of the local currency. “I have to redo it now, because the dollar components might go down,” he explained.

“The dollar components that are payable in cedi might go down as a result of the performance of the cedi or the strength of the cedi now. So we’d have to look at that.”

He clarified misconceptions about the Cocoa Roads project.

“Anytime we mention the Cocoa Roads’ $21 billion, people assume that the $21 billion is part of the $33 billion. No, it is not. It is only $4.4 billion, which are certificates raised and sitting at our cash office,” he said.

“Of the about $33 billion we’re talking about, the component of Cocoa Roads is just $4.4 billion, which is certificates—work executed and certificates presented for payment.”

He stressed that the remaining Cocoa Roads contracts were either not executed or had no certificates raised.

“That is where the rationalisation is focused on, in trying to see which of them we can cancel, which of them can be offloaded to the ministry and all that, which of them can be varied. That’s the exercise that has been done.”

Dr. Abbey described the daily financial pressure at COCOBOD as relentless.

“I’m sure that when you got here, you waited for about an hour. All those you saw leaving my office were companies that we owed. The banks are chasing them and all that.

“And they have also come here to chase us. Every day, I’m dealing with either solicitor letters or court issues. And it’s about people that we owe.”

He revealed that the organisation owes agrochemical suppliers over $400 million, and that many contractors and vendors have gone unpaid for years. “We’ve owed people for four years, for three years, for two years, for a year,” he said.

The acting CEO also disclosed a shocking contract issued in December 2024 for $48 million worth of jute sacks.

“Even in December, they [previous NPP administration] were signing contracts. And even January, you know, they were doing… I’m sure you’ve heard about the jute sacks,” he said.

“They issued an irrevocable letter of credit, $48 million in December of 2024, when the paper documents show that they had imported jute sacks and over 110,000 have not been cleared over three years.

“Yet they still decided to award a contract for 80,000 bales of jute sacks valued at $48 million and issued an irrevocable letter of credit on our account at the Ghana International Bank in London.”

He said the financial structure of the letter of credit meant payment would be made regardless of current conditions.

“Those 80,000 bales have started arriving. And once the bill of ladings are presented to us and given to the bank by the structure of the irrevocable LC, the $48 million will be given to the company. That is how this place was run.”

Despite the crisis, Dr. Abbey said there is a path forward.

“Now we have to redo the books in view of the cedi appreciation,” he said, indicating that while painful, the restructuring and re-evaluation processes are key to restoring financial discipline and eventual stability.

The newly constituted board is chaired by Dr Samuel Ofosu Ampofo and includes key national figures such as the Minister for Finance, Dr Cassiel Ato Forson (MP), and the Governor of the Bank of Ghana, Dr Johnson Asiama.

Other members are Chief Executive Randy Abbey, Alhaji Alhassan Kobina Ghansah, Vincent Oppong Asamoah, Deputy Minister for Trade Samson Ahi, Deputy Minister for Agriculture John Dumelo, Alhaji Alhassan Bukari, Nana Charles Owusu and Eric Turkson.

The inauguration ceremony was presided over by Minister for Energy, John Jinapor, who also doubles as the Alternate Minister for Finance.

In his address, Mr Jinapor voiced concern over the dramatic decline in cocoa production, which he said had dropped from a peak of one million metric tonnes to around 500,000 metric tonnes in recent years.

He described the state of COCOBOD as alarming but expressed confidence that the new board had the requisite expertise, experience, and credibility to restore the institution’s prestige.

Dr. Forson, addressing the gathering, expressed appreciation for the opportunity to serve on the board once again, recalling his previous tenure as Deputy Finance Minister.

He explained that under a new legal framework, both the Minister for Finance and the Governor of the Bank of Ghana are now statutory members of the COCOBOD board.

Dr Forson stressed the central role of cocoa in Ghana’s economic fabric, describing it as “the jewel of the economy.”

He bemoaned recent mismanagement in the sector and outlined an ambitious government plan to acquire 200,000 hectares of land for plantation farming in a bid to restore production to one million metric tonnes.

He further tasked the board to take immediate steps to address the prevalence of cocoa diseases, particularly in the Western Region, which he said continues to undermine productivity.

The Finance Ministry, he assured, will offer full support to COCOBOD in achieving its turnaround agenda.

Board Chairman Dr Samuel Ofosu Ampofo, in his acceptance speech, thanked the President for entrusting the board with such a crucial national mandate.

He described their role as both a privilege and a heavy responsibility, pledging to lead a reformative agenda to “reset, retool, and reimagine” COCOBOD into a centre of excellence.

Dr. Ampofo also called on political leaders to take a hands-on approach to agriculture, suggesting that their direct involvement in farming would set an example for the nation’s youth and rekindle interest in agriculture.

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Speaking on Nhyira FM’s ‘Kuro Yi Mu Nsem’ show, Dr. Abbey highlighted the deep revenue gap between cocoa-producing countries and those involved in processing and value addition.

“When you look at the value chain of cocoa, that is where you speak about the 100 billion. At the moment it’s getting close to 200 billion because of where the prices are, but primary producers don’t gain much,” he said.

Dr. Abbey explained that while Ghana and Côte d’Ivoire contribute up to 60% of the world’s cocoa supply—and nearly 80% when other African countries are added, their earnings from the global value chain remain below 3% for each of these countries.

“Ghana contributes about 20% of cocoa production in the world, but in terms of revenue we gain from the value chain, the highest we get is about 5 billion based on current prices,” he noted.

He further compared Ghana’s returns to that of non-producing nations, highlighting Belgium as a striking example.

“A tiny country like Belgium will be making about 20 billion. They don’t even have cocoa. But we make only about 2% out of the 20% we produce,” he lamented.

Randy Abbey believes there’s a need for Ghana to strengthen its local cocoa processing capacity that can increase revenue generated from cocoa production.

“Our processing capacity all put together is about 500,000 tonnes. It has increased and it means that when we combine the capacity of CPC, WAMCO and all the processing companies in Ghana, we process about 500,000 tonnes which can help improve our earnings from cocoa,” he said.

The new season, set to begin in August 2025, will see a significant increase in prices—surpassing those offered in neighboring Côte d’Ivoire.

Dr. Abbey gave the assurance during his ongoing nationwide tour of cocoa-growing communities, aimed at familiarizing himself with farmers and gathering firsthand insights into their concerns as he begins his tenure as CEO.

Addressing cocoa farmers in the Bono and Ahafo regions, he emphasized COCOBOD’s commitment to delivering fair and competitive pricing to ensure improved livelihoods for cocoa producers.

“We are determined to announce a new price by August that will not only reflect current global trends but will also be better than what is offered in Côte d’Ivoire,” Dr. Abbey said.

During the engagements, farmers welcomed the pricing assurance but also called for broader reforms to make cocoa farming more profitable and appealing, particularly to the youth.

They urged the government to enforce tree-planting initiatives in cocoa-growing areas to combat climate change, which continues to affect yields.

Farmers also appealed for the timely distribution of insecticides to ensure effective pest control and encouraged the provision of soft loans and incentives to support women in cocoa farming.

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A loan of $263 million was contracted for the rehabilitation of 156,000 hectares of cocoa farms. However, only 40,000 hectares had been completed at the time he assumed office at COCOBOD.

“If we had successfully done the 156,000 hectares, it would have contributed up to 200,000 tonnes to our production. We took all this money, and all we have to show is just 40,000 hectares completed,” he lamented.

Dr. Abbey made these remarks at a meeting with farmers at Nkawie in the Ashanti Region.

According to the COCOBOD CEO, the decision to undertake rehabilitation was due to the infestation of about 40 per cent of cocoa farms by diseases. The move to rehabilitate the farms was applauded by the new COCOBOD management.

Dr. Randy Abbey further revealed that an additional GHS700 million was invested in the project. He noted that the matter has been referred to the appropriate authorities for investigation.

“There are agencies responsible for investigating these matters. I am saddened by what has happened because it was a golden opportunity to turn things around in the sector,” he said.

To boost cocoa production in the country, COCOBOD is now working to put 21,000 hectares into rehabilitation, with the CEO committed to ensuring the success of the effort.

“We have left some farms in the bush, and that is what I am trying to work on—so we can rehabilitate them and add them to our productive stock,” he added.

According to COCOBOD, the new administration also inherited road contracts worth GHS21 billion, alongside existing debts of GHS4.4 billion.

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The Omanhene made these remarks when Dr. Abbey, accompanied by some senior management staff, paid a courtesy call on him during a three-day working tour of the Western North and South Regions.

Highlighting the complexity and demands of COCOBOD’s operations, Tetrete Okuamoah noted that the organization requires immense effort, time, and dedication to satisfy stakeholders along the cocoa value chain. He emphasized that Dr. Abbey’s early actions demonstrate his strong commitment to revitalizing the sector through sound policies.

“It is a very clear indication of how determined you are in moving the industry forward, despite taking over from the previous administration just a few months ago,” he said.

The Paramount Chief further urged the new management to continue projects initiated by the previous administration, including road construction, hospitals, schools, and other infrastructural developments critical to supporting cocoa communities.

“Some projects were halted under the previous administration; don’t abandon them. Continue so you will be remembered for your legacy,” he advised.

Tetrete Okuamoah also stressed the importance of sustaining productivity initiatives such as the Cocoa Rehabilitation Programme, CODAPEC Hi-Tech, Pruning, and Hand-Pollination, which he described as crucial in maintaining and enhancing cocoa yields nationwide.

On illegal mining (galamsey), the Chief lamented its devastating impact on cocoa farms, particularly in the Western South Region, which, according to him, contributes between 20% and 40% of Ghana’s total cocoa production. He called for national collaboration in combating the menace and pledged his support for any anti-galamsey initiatives introduced by COCOBOD.

“Illegal mining is a national crisis, not just a local issue. I am ready to support any policies you outline to address this threat,” he stated.

The Paramount Chief further appealed to the COCOBOD leadership to prioritize setting a decent producer price for cocoa farmers to discourage the sale of farmlands to illegal miners and attract more youth into cocoa farming.

“Consider the farmers’ hard work, sweat, and dedication, and reward them with a fair producer price to sustain their commitment to the sector,” he concluded.

Responding to the Omanhene’s concerns, Dr. Randy Abbey assured him of the Board’s commitment to addressing the challenges. He reiterated COCOBOD’s focus on increasing productivity, improving farmers’ livelihoods, and intensifying the fight against illegal mining activities.

“Nana, I can assure you that the 2025/2026 crop season will open with a new and better producer price this August. We are also putting in place strong policies to curb the galamsey menace and boost production, despite the challenges the sector is facing,” Dr. Abbey pledged.

The visit formed part of COCOBOD’s broader stakeholder engagement efforts aimed at strengthening partnerships and building a resilient and sustainable cocoa industry.

During a farmers’ rally at Attronso in the Sefwi Bekwai District, as part of his three-day maiden tour of the Western North Region, Dr. Abbey revealed that COCOBOD is actively considering a review of the producer price of cocoa for the 2025/2026 season.

“This is part of our broader effort to improve the livelihoods of farmers and make cocoa farming attractive to the youth,” he said.

“Despite our financial constraints, management is committed to offering cocoa farmers a better price for their produce.”

Dr. Abbey expressed concern over the ageing population of cocoa farmers, warning that it poses a threat to the sector’s long-term sustainability.

He stressed the need to modernize cocoa farming and introduce innovations that would attract younger people to the industry.

“To make cocoa farming more appealing, we’re working with the Ministry of Agriculture to provide modern tools and equipment,” he noted.

Dr. Abbey also announced plans to invest in irrigation systems to help cocoa farms adapt to erratic rainfall patterns.

He encouraged farmers to form cooperatives to benefit from these interventions more efficiently.

“It’s not feasible to implement irrigation for individual farmers. Cooperative farming is essential if we want to tackle the high costs and water access issues worsened by illegal mining,” he explained.

He also disclosed that COCOBOD is pushing for amendments to laws governing cocoa cultivation to better protect cocoa trees from environmental threats, especially from galamsey activities.

“Cocoa farming is a legacy of wealth for future generations. Strengthening legal protections for cocoa trees is crucial,” he stressed.

Dr. Abbey further assured farmers of the timely delivery of fertilizers and agrochemicals, warning against the diversion of these critical inputs.

“These inputs come at a great cost to support our farmers. Anyone caught in diversion activities will face the full consequences,” he cautioned.

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The farmers made the call during a durbar at Ganyorkrom, held in honour of the COCOBOD CEO as part of his regional tour to engage cocoa stakeholders and assess sector-wide challenges.

The farmers described the situation as dire, citing the encroachment of illegal miners on cocoa farms, the destruction of arable land, and the pollution of water bodies as alarming developments that could cripple the local cocoa economy.

“Our cocoa farms are all we have, but these illegal miners are destroying everything,” one farmer stated, adding that if no action is taken, the community could soon lose its primary economic activity.

They urged Dr. Abbey to use his office to advocate stronger government action against illegal mining and called for more protection and support to safeguard cocoa-growing communities in the district.

In his response, Dr. Abbey expressed deep concern over the impact of galamsey on cocoa production and livelihoods. He assured the farmers that their complaints would be forwarded to the relevant state authorities.

He also criticized the previous administration for failing to complete even one-third of the national cocoa rehabilitation programme, despite exhausting the allocated resources.

Dr. Abbey reaffirmed COCOBOD’s commitment to protecting the interests of cocoa farmers and preserving the cocoa sector, which he described as a national treasure and a vital pillar of Ghana’s economy.

The Suaman District, like many others in the Western North Region, has become a hotspot for illegal mining, raising fears about environmental degradation and the long-term viability of cocoa farming.

Farmers in the area are hopeful that the CEO’s visit will lead to urgent government intervention and the restoration of their lands.

The affected farmers claim that the company is attempting to clear large portions of cocoa farms in Sehwi Atronsu and surrounding areas to pave the way for the construction of a bauxite refinery.

They fear the move will destroy their livelihoods and undermine years of hard work and investment in cocoa farming.

Speaking during Dr. Abbey’s maiden working visit to the region, Andrew Asare, a cocoa farmer at Atronsu, said the company has already earmarked some cocoa farms for destruction.

He described the development as deeply troubling and appealed to COCOBOD for immediate intervention to prevent the destruction of their farms.

“We rely solely on cocoa to survive. If these farms are cleared, we will lose everything,” Mr. Asare said emotionally, stressing the urgency of the situation.

In response, Dr. Randy Abbey assured the farmers that COCOBOD will not abandon them and will take steps to engage the relevant stakeholders to find a solution.

He urged the farmers to remain calm and continue cooperating with COCOBOD as it works to safeguard their interests and protect the cocoa sector.

He reaffirmed COCOBOD’s commitment to promoting the welfare of cocoa farmers and sustaining the country’s cocoa production amidst increasing threats from illegal mining and industrial encroachments.

The anticipated price is expected to surpass that of neighbouring Ivory Coast, a move the farmers believe will enhance their livelihoods and address key challenges facing the cocoa industry.

The Chief Executive Officer of COCOBOD, Dr. Ransford Abbey, made the announcement during a three-day working tour of the Western North and Western South Regions.

Addressing a gathering of cocoa farmers at Aboagyekrom in the Sehwi Wiawso Municipality, Dr. Abbey explained that the planned price increment is part of the government’s effort to support cocoa farmers and reduce the temptation to smuggle produce across borders, where prices are currently more favourable.

He emphasized that the decision aligns with a broader strategy to improve farmers’ income, curb cocoa smuggling, and discourage illegal mining in cocoa-growing areas.

The farmers welcomed the news with excitement and expressed relief, especially given circulating rumours that there would be no price increment this year.

They commended COCOBOD for heeding their calls and showing commitment to the welfare of cocoa producers.

In interviews with the media, several farmers noted that the new price, once implemented, would not only encourage them to increase production but also motivate more youth to venture into cocoa farming.

They also believe it will help stabilise the industry by discouraging cross-border smuggling of cocoa beans.

The farmers pledged their continued support for COCOBOD and urged the government to ensure that the August announcement comes with a substantial increase to reflect current market conditions.

]]> http://34.58.148.58/cocobod-ceo-to-announce-new-cocoa-farmgate-price-to-surpass-ivory-coast/ Thu, 24 Apr 2025 16:23:22 +0000 https://www.adomonline.com/?p=2528421 The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr. Randy Abbey, has disclosed that a new cocoa farmgate price will be announced in August 2025.

The revised price, he said, is expected to exceed that of neighbouring Ivory Coast, one of the world’s top cocoa-producing countries.

During a working visit to the Western North Region, Dr. Abbey explained that the new pricing policy is part of a broader strategy to improve the welfare of Ghanaian cocoa farmers by offering them better compensation for their produce.

The goal, he emphasized, is to make Ghana’s cocoa industry more competitive while ensuring farmers receive a fair share of the global cocoa value chain.

The announcement comes at a time when global cocoa prices have surged due to declining production and climate challenges across West Africa.

Dr. Abbey’s visit took him to several cocoa-growing communities and COCOBOD offices, where he engaged with farmers and staff to assess their challenges and opportunities.

However, while touring the Sehwi Boako cocoa station in the Sehwi Wiawso Municipality, Dr. Abbey expressed concern over a large pile of cocopeat that had been left to rot.

He called on district officers to ensure proper resource management to avoid wastage of valuable by-products that could be repurposed for agricultural use.

]]> http://34.58.148.58/minority-demands-urgent-cocoa-price-increase-slams-cocobod/ Mon, 14 Apr 2025 17:59:36 +0000 https://www.adomonline.com/?p=2525272 The Minority Caucus in Parliament has strongly condemned the Ghana Cocoa Board (COCOBOD) and the NDC government for their failure to increase the producer price of cocoa for the 2025/2026 season.

This follows COCOBOD’s announcement on April 9, 2025, that cocoa prices would remain unchanged for the upcoming season—a decision the Minority describes as detrimental to the livelihoods of cocoa farmers.

At a press conference in Kumasi on Monday, April 14, 2025, Minority Spokesperson and MP for Offinso South, Isaac Yaw Opoku, expressed frustration and disappointment, calling on the government to stop making excuses and take immediate action.

“We are here to express our deep concerns about the government’s failure to adjust the producer price of cocoa,” he stated, referencing COCOBOD’s letter dated April 8, 2025, titled Cocoa Price Adjustment for the 2025/2026 Cocoa Season.

Mr. Opoku also highlighted inconsistencies in COCOBOD’s communications, noting that a second statement from the Public Affairs Department contradicted the initial release and provided conflicting reasons for the price freeze.

“We are shocked and highly disappointed by the two releases, which both confirm one thing—that neither COCOBOD nor the NDC government intends to increase the producer price of cocoa for the 2025/2026 season,” he added.

The Minority is calling for urgent measures to support cocoa farmers, warning that the current stance could severely impact a vital sector of the economy.

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The meeting, held earlier today, focused on developing a sustainable financial plan to complete critical road infrastructure in cocoa-producing regions.

As part of the discussions, a joint technical committee has been established, comprising officials from the Ministry of Roads and Highways and COCOBOD.

The committee’s mandate is to rationalize the cocoa roads portfolio, assess total commitments, and determine COCOBOD’s financial exposure regarding these projects. It is expected to submit its report within three weeks, outlining recommendations on resource allocation and project completion strategies.

The rationalization process will involve a comprehensive review of both ongoing and stalled cocoa roads projects, evaluating government financial commitments, and proposing measures to ensure efficient use of funds.

This initiative aims to provide clarity on the scope of work needed and facilitate the timely completion of essential road networks that support Ghana’s cocoa sector.

Agbodza reaffirmed the government’s commitment to delivering quality road infrastructure to enhance economic activities in cocoa-producing areas.

He emphasized that improving road access in these regions is crucial for boosting productivity, ensuring smooth transportation of cocoa produce, and ultimately contributing to Ghana’s economic growth.

]]> http://34.58.148.58/senyo-hosi-backs-governments-goldbod-initiative/ Mon, 17 Mar 2025 09:08:45 +0000 https://www.adomonline.com/?p=2515419 Economist Senyo Hosi has welcomed the establishment of GoldBod by the government as part of efforts to regulate and optimize the country’s benefits from the trade in gold and other precious minerals.

According to Hosi, the initiative is a strong and conceptually potent proposition that, if well implemented, will benefit the nation.

“We are informed that GoldBod will be responsible for the trade of 100% of all small-scale mining and will secure for us our full forex receipts. I support it,” he stated.

He emphasized that centralizing gold trade offers international buyers strong quality assurance options while creating opportunities for branding Ghana’s gold. “I do not see GoldBod becoming a failure like COCOBOD if the fundamental governance, transparency, and accountability structures are competently woven into its implementation,” he added.

Hosi stressed that the regulatory and operational framework of GoldBod must align with existing structures to ensure easy market adaptability. “At the heart of its success will be its commercial sanctity,” he explained.

He noted that the gold trade currently provides discounts of 5% to 15%, depending on pre-financing terms. Therefore, if GoldBod purchases within the same market provisions while absorbing the 1.5% gold export tax, it will not only run a government monopoly but also become the most optimal commercial partner for small-scale miners and aggregators.

“GoldBod must use its scale and influence to make smuggling not just illegal but also senseless,” he concluded.

This announcement follows the departure of Fiifi Boafo, who previously held the role.

Sam Jerome, known for his work in political communications, brings with him a wealth of expertise in Development Finance, Entrepreneurship, and Law, which he studied during his academic journey.

His broad skill set is expected to strengthen COCOBOD’s public relations and communication strategies, supporting the organization’s pivotal role in Ghana’s cocoa industry.

With his new appointment, Jerome is set to oversee corporate communications, media relations, and strategic outreach, ensuring that the Cocoa Board continues to engage effectively with both the public and stakeholders in the sector.

His appointment is seen as a significant move towards enhancing COCOBOD’s visibility and engagement, further elevating its position as a key player in Ghana’s agricultural landscape.

The truck, registered AS 2103-W, was driven by one Ibrahim Fatawu. The smuggled cocoa beans were concealed in gallons, an attempt to evade Ghana’s regulated pricing system and sell them in Togo.

Director of Special Services at COCOBOD, Charles Amenyaglo, confirmed the interception, stating that it highlights the persistence of cocoa smuggling.

“This interception proves that cocoa smuggling remains a serious issue in Ghana. We are intensifying efforts to track down these illegal activities and protect our farmers and the economy,” he said.

The seized consignment is currently in the custody of COCOBOD and GRA, pending further investigations.

The COCOBOD Head of Security reiterated the Board’s commitment to safeguarding Ghana’s cocoa industry.

“We remain vigilant and will continue working with security agencies to prevent cocoa smuggling, which threatens the livelihoods of our hardworking farmers and the economy as a whole,” he emphasized.

Meanwhile, authorities have warned that those involved in cocoa smuggling will face strict legal consequences.

This latest interception reinforces COCOBOD and the government’s resolve to clamp down on illicit cocoa trade across the country.

COCOBOD has urged the public to report any suspicious cocoa-related activities to ensure Ghana’s prized commodity remains within regulated trade channels.

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Describing these reports as entirely false, COCOBOD has urged the public to disregard them and rely solely on official communication channels for accurate updates on cocoa pricing.

A widely shared social media flyer alleged that the Minister for Food and Agriculture, Eric Opoku, had announced that cocoa farmers would receive 70% of the world market price. However, COCOBOD has dismissed this claim as misleading.

“Our attention has been drawn to a false flyer circulating on social media claiming that the Minister for Food and Agriculture has announced an increase in cocoa prices. This information is completely untrue,” COCOBOD stated in a post on its official social media page.

They also cautioned stakeholders and the public against spreading misinformation, emphasizing the need to verify information from credible sources.

COCOBOD reassured the public that any future price adjustments would be officially communicated through the appropriate channels to prevent misinformation and speculation.

See the post below:

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He explained that there is an urgent need to redirect COCOBOD’s finances to compensate farmers.

Engaging stakeholders for the first time after his appointment, Dr. Abbey told farmers that they would be the focus of COCOBOD. He assured them that farmers would be constantly consulted to seek their input in decision-making.

“We need to listen to them. They are the practitioners. They [farmers] have been involved in this for decades, and in every decision that we take, we need to have their input. They ought to be central in our decision-making,” he said.

He emphasized the importance of the cocoa farmer in the entire value chain. According to Dr. Abbey, farmers must be well catered to in order to encourage the production of quality cocoa for the nation.

“We also need to prioritize their welfare, so that is what I mean by putting the cocoa farmers at the center of what we do here,” he added.

Dr. Abbey underscored the need to continue some long-term projects started by COCOBOD to boost production.

“There are some things that have been started, such as the rehabilitation of some of the farms. We need to intensify that. We first need to understand what is going on and then intensify it as well,” he said.

He also suggested the need to focus on large-scale farming to sustain cocoa production.

“We need to work together with the farmers to see how we can increase that. There is also the issue of prioritizing large-scale farming, as seen in Côte d’Ivoire and some of the neighboring countries,” he said.

The spokesperson of the Ghana Cocoa Coffee Sheanut Farmers Association (COCOSHE), Imoro Issifu Alhassan, outlined some areas that must be quickly addressed to restore growth in the cocoa sector.

“You have come at a time when the COCOSHE are facing huge challenges that must be tackled immediately. These challenges include, but are not limited to, declining production, low incomes, and persistent threats from pests and diseases,” he said.

He pointed out that another major threat to cocoa production is galamsey.

“These issues and others remain critical priorities for us, and we look forward to working closely with your office to tackle them effectively,” he added.

He cautioned that cocoa production is at its lowest point, which is unprecedented in the history of cocoa production in Ghana.

“From a production level of over one million tons to below 500,000 tons as we speak is sickening. For production to sink this low calls for an urgent need to tackle these challenges head-on,” he said.

He also added that farmers’ welfare has suffered a setback.

According to the IMF, COCOBOD has faced difficulties capitalizing on record-high global cocoa prices due to weak production levels during the 2023/2024 cocoa season. This shortfall has hampered its ability to fulfill commitments under existing forward sales contracts.

Data from the Ghana Statistical Service underscores the cocoa sector’s struggles, revealing a significant 26% decline in output for Q3 2024. This marks the fifth consecutive quarter of contraction in the sector.

The IMF also highlighted that Ghana missed a crucial opportunity to fully benefit from rising international cocoa prices because of its forward sales arrangements.

In response to these challenges, the government increased the 2024/2025 farmgate price for cocoa by 50%, aiming to deter smuggling and prevent the conversion of cocoa farmlands into illegal mining sites.

In its latest staff report, the IMF acknowledged the government’s initiatives to stabilize the sector, including the establishment of a dedicated cocoa desk at the Ministry of Finance.

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According to the Washington-based multilateral institution, notwithstanding record-high spot market prices, the weak cocoa production in 2023/24 posed significant challenges to COCOBOD’s ability to deliver on existing forward sales contracts.

As a result, Ghana was unable to take full advantage of high international prices as part of the forward contracts (carrying lower prices than current market prices) had to be rolled over to the 2024/25 season.

The 2024/25 farmgate price was increased by 50%, reflecting the high international prices and the need to reduce incentives to smuggle cocoa and/or use cocoa farmland for illegal gold mining.

COCOBOD also adopted a new financing model to purchase cocoa beans, whereby a combination of self-financing by licensed buying companies and local bank financing will replace the annual international banks’ loan syndication.

The IMF said COCOBOD’s cash flow situation is expected to remain broadly balanced during the current season assuming a rebound in production due to a normalisation of weather conditions—a somewhat realistic assumption based on the latest indications.

In October 2024, the government published the Cocoa Board’s turnaround strategy.

The strategy aims at restoring COCOBOd’s financial sustainability by strengthening financial oversight; maintaining the producer price within the range of 60-70% of international prices to balance the need for a fair distribution of export proceeds to farmers and for covering its financial and operational costs; rationalizing costs and phasing out quasi-fiscal activities entailed by the financing of cocoa roads and fertilizer programmes.

The cocoa desk established at the Ministry of Finance also continues to review COCOBOD’s financial position with a view to improve financial oversight.

Source: JoyBusiness

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The initiative encourages cocoa farmers to save money to support their farming activities during times of need or unforeseen challenges, ensuring financial stability and sustainable cocoa production.

Speaking on the initiative, Mr. Samuel Asare Agyako, the Cocoa Extension Officer for the Mim A area, expressed optimism about the program’s benefits.

He noted that Operation Save to Maintain would significantly help cocoa farmers and hinted at plans to introduce additional initiatives aimed at improving farmers’ livelihoods.

Mr. Eugene Amoah, the Cocoa Officer for Goaso, also highlighted the adverse effects of cocoa smuggling on the country’s economy.

Some cocoa farmers expressed their appreciation to COCOBOD for introducing this initiative, describing it as timely and beneficial for their operations and overall well-being.

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The program has brought renewed hope to the region, which has been grappling with challenges posed by the Cocoa Swollen Shoot Virus Disease (CSSVD) and other crop issues.

During a series of community engagements in Bibiani Anhwiaso Bekwai, Wiawso, Juaboso, Bia West, and Akontombra, traditional leaders and farmers expressed deep gratitude for COCOBOD’s intervention.

They highlighted how the initiative, which provides free seedlings, fertilizers, and technical support, has significantly improved the region’s cocoa farming prospects.

Nana Kwabena Ebi II, the chief of Sehwi Akontombra, acknowledged the transformative impact of the program. “This initiative has restored our hope. Many of us feared losing our farms forever to diseases, but today, we see a promising future for cocoa farming,” he said.

Farmers also shared their optimism about the progress made. Nana Yaw Berima, Kontihene of Sehwi Yawmatwa, noted that the assistance provided by COCOBOD has revived farms that were on the brink of collapse.

“Our farms are blooming again, and we are reaping the rewards of COCOBOD’s support. The technical guidance and materials have been a game changer,” he remarked.

The Western North Region, a key cocoa-producing area, has suffered significant losses due to CSSVD, which decimated farms and impacted cocoa yields.

However, the rehabilitation program has not only restored productivity but also boosted farmers’ confidence in adopting modern farming techniques and practices.

Joseph Boahen Aidoo expressed his satisfaction with the program’s success, reiterating COCOBOD’s commitment to strengthening the cocoa sector.

“Empowering farmers and ensuring they have the necessary resources is at the heart of our mission. Revitalizing cocoa farms in this region is part of a larger vision to secure Ghana’s cocoa industry against future challenges,” he stated.

The initiative’s success is expected to reinforce Ghana’s reputation as a leading producer of high-quality cocoa globally.

Speaking at an engagement session with farmers and traditional leaders in the Juaboso and Bia districts, he emphasized that the development of cocoa roads remains a priority to enhance the livelihoods of farmers and increase cocoa production.

The abandoned road projects, which were initiated under COCOBOD, have faced delays due to financial constraints.

Addressing the concerns of farmers, Aidoo assured them that the government is determined to resume work on these roads, which are crucial for improving transportation to markets, reducing post-harvest losses, and boosting productivity.

Among the roads mentioned were Benchema-Adjofua and Enchi-Elubo, with the CEO pledging that their completion would ease the burden of transporting cocoa and other goods in the region.

Highlighting the importance of infrastructure in cocoa-growing areas, Aidoo noted that the roads would facilitate a smoother flow of produce to processing centers, ultimately benefiting farmers.

He also outlined plans for closer collaboration between the government, COCOBOD, and local authorities to ensure the timely resumption and completion of the projects.

During the session, Samuel Tabiri, the Sehwi Juaboso Cocoa Health and Extension Officer, commended Aidoo for educating farmers on best practices to enhance their yields.

This collaborative approach, Tabiri noted, was vital for ensuring the long-term development of the cocoa sector and the well-being of farmers in the region.

Speaking on Sunrise FM on Friday, November 22, after concluding his five-day tour of the Eastern Region, Mahama expressed concerns about Cocobod’s financial management, particularly in the face of declining cocoa production.

“Cocoa farmers have been struggling for years, yet Cocobod deems it fit to allocate huge sums to its headquarters,” he said.

He further revealed: “Over the past four years, cocoa production has dropped to 555,000 tonnes, but Cocobod’s headquarters expenses have skyrocketed to a staggering GHC3.4 billion in 2023. This is unacceptable. Instead of supporting farmers, they are splurging on cars and unjustified salaries.”

Plans for the Cocoa Sector

Mahama outlined his vision to revitalize the cocoa sector and improve the welfare of farmers if elected in 2024.

“We will manage the cocoa sector better under our government. Cocoa farmers will see real benefits, including year-round irrigation for cocoa-growing areas and the establishment of local processing plants to add value to our produce,” he assured.

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He said the nation’s average cocoa production had now increased from 450 kilograms per hectare (kg/ha) in 2017 to an impressive 800 kg/ha.

Describing it as unprecedented, Mr Aidoo said the achievements were because of the implementation of various laudable interventions and initiatives by the government.

Some of the initiatives included the Cocoa Rehabilitation Programme which stood out as a crucial response to the devastating impact of the cocoa swollen shoot virus disease (CSSVD) that had plagued the industry.

Mr Aidoo made this known at the celebration of the 2024 annual festival of the ‘Brong-Ahafo’ Women Co-operative Farmers and Marketing Central Union (BAWCOF) festival 2024, held at Goaso, in the Ahafo Region.

It was on the theme “Growing a gender-equal future: Empowering women and youth in agriculture,” and brought together about 7,000 of the Union drawn from 96 societies in nine cocoa districts in the Bono and Ahafo Regions.

On the rehabilitation programme, Mr Aidoo said 74,813 farms covering 67,385.43 hectares and owned by 56,105 farmers had been rehabilitated and were doing well.

He said out of the figure 44,480 farms, which covered 40,150.40 hectares belonging to 28,510 farmers, were matured as of August 2024 and would be handed over to the farmers.

He said other interventions including pruning and hand pollination remained a game-changer in improving quality beans.

Mr Aidoo said he was highly impressed about the achievement of a female cocoa farmer who recorded productivity of 6.7 tonnes per hectare or 41 bags per acre, surpassing her male counterpart who produced 4.1 tonnes per hectare in the season.

“This clearly demonstrates the capabilities of women cocoa farmers in the country,” he stated, adding that for the first time in 32 years, COCOBOD did not resort to offshore borrowing or annual syndication.

Mr Aidoo indicated that “while successive National Democratic Congress (NDC) governments sought overseas loans for cocoa financing, successive New Patriotic Party (NPP) administrations successfully transitioned the country from over-reliance on foreign loans”.

He said COCOBOD had adopted a ‘zero-borrowing model’ to finance the 204/2025 crop season under President Nana Akufo-Addo’s government, saying since the season began in mid-September, farmers had been receiving prompt payments compared to the previous years.

Additionally, the Licensed Buying Companies (LBCs) were now demonstrating a faster turnaround in their purchases and deliveries, he said.

Mr Michael P. K Asumanu, the Bono, Bono East and Ahafo Regional Administrator of the COCOBOD said women played a crucial role in the cocoa value chain, saying women were actively involved in preparing seedlings, harvesting, drying, and sale of cocoa beans.

However, he expressed concern about certain barriers that hindered women’s equality in cocoa farming, mentioning limited access to resources including land for farming and time constraints due to household responsibilities as some of the barriers.

Mr Asumanu said discriminatory social norms, perceptions, and cultural practices also had a significant impact on women’s participation in productive activities in the cocoa value chain.

Ms Martha Addai, the President of BAWCOF, urged stakeholders to help fight illegal mining, saying illegal mining activities “galamsey” continued to threaten the cocoa industry.

She also cautioned cocoa farmers against smuggling the beans to neighbouring countries, highlighting the importance of selling the produce locally to bolster the economy, thereby enhancing the socio-economic livelihoods of the people.

Ms Addai said the union was collaborating with Non-Governmental Organisations which were providing valuable training and support not only to improve cocoa production but also to empower farmers to be economically sustained in the off-season.

She said BAWCOF collectively managed 6,857.82 hectares of cocoa farms that yielded 82,923 bags of cocoa in each farming season.

The celebration also offered an opportunity for the union members to undergo free breast cancer screening organised by the personnel of the Cocoa Clinic.