The Ghana Cocoa Board (COCOBOD) has dismissed claims of a cocoa price hike announced by the Agriculture Minister, Eric Opoku, labeling them as “completely untrue”.
However, this denial has sparked confusion among cocoa farmers and industry players, who are eager for any updates on cocoa pricing.
According to Eric Opoku, the Minister for Food and Agriculture, the government has decided to exceed the initial 60% proposal and offer cocoa farmers 70% of the world market price.
This announcement was made on social media, but COCOBOD has since denied it, urging stakeholders to rely only on official communication channels for accurate updates.
Cocoa pricing remains a critical concern for Ghana, the world’s second-largest producer of cocoa.
The country has been grappling with challenges in the sector, including rising production costs, declining output, climate-related risks, and the impact of global cocoa supply and demand trends.
In recent years, Ghana has made efforts to support cocoa farmers.
In April 2024, the Akufo-Addo led government increased the producer price of cocoa by 58.26% to GH¢33,120 per tonne.
This move was seen as a significant boost to the livelihoods of cocoa farmers.
However, the current controversy surrounding Eric Opoku’s announcement has raised questions about the government’s commitment to supporting cocoa farmers.
While COCOBOD has denied the price hike, many are left wondering what the future holds for Ghana’s cocoa industry.
-BY Issah Olegor
