COCOBOD denies Cocoa price increase for farmers

Ghana Cocoa Board (COCOBOD) has dismissed claims circulating on social media that the government has announced an increase in cocoa prices to 70% of world market price for farmers.

COCOBOD in a post on social media stated that such reports are entirely false.

The regulatory body has urged stakeholders and the public to disregard the misinformation and rely only on official communication channels for accurate updates on cocoa pricing.

The social media flyer suggests that the Minister for Food and Agriculture, Eric Opoku, had declared that cocoa farmers would be paid 70% of the world market price, but this has been labeled as misleading by COCOBOD.

“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.

“We urge our cherished stakeholders and the public to disregard this fake news and rely only on official communication from COCOBOD and the Ministry,” COCOBOD wrote on it social media page.

The increment when implemented reflects Ghana’s commitment to enhancing the livelihoods of cocoa farmers, who play a crucial role in the country’s economy.

Cocoa contributes about 20% of Ghana’s total export revenue, making it a key driver of national growth.

However, fluctuating global prices and challenges such as climate change, smuggling, and aging farms have impacted production in recent years.

By increasing farmers’ earnings, the government aims to:

• Motivate farmers to stay in cocoa farming rather than shifting to other crops.

• Boost production to sustain Ghana’s strong global market presence.

• Strengthen Ghana’s position as a leading cocoa producer, second only to Côte d’Ivoire.

The post COCOBOD denies Cocoa price increase for farmers first appeared on 3News.

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