There is NO cocoa price increase says COCOBOD

The Ghana Cocoa Board (COCOBOD) has issued a stern warning to the public, dismissing as false a social media flyer claiming that the government has announced an increase in cocoa prices. 

The regulatory body has described the flyer, which alleged that the Minister for Food and Agriculture, Eric Opoku, declared cocoa farmers would be paid 70 percent of the world market price, as entirely misleading.

In a statement posted on its official Facebook page, COCOBOD urged stakeholders and the general public to disregard the misinformation and rely solely on official communication channels for accurate updates on cocoa pricing.

“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,” the statement read.

The board emphasized, “We urge our cherished stakeholders and the public to disregard this fake news and rely only on official communication from COCOBOD and the Ministry.”

The clarification comes at a critical time when cocoa farmers and industry players are closely monitoring potential price adjustments amid global market fluctuations.

Cocoa pricing remains a sensitive issue in Ghana, as the sector grapples with challenges such as rising production costs, declining output, climate-related risks, and the impact of global cocoa supply and demand trends.

Cocoa farmers have long advocated for better prices to reflect the realities of their operational costs. However, COCOBOD has reiterated that any changes to cocoa prices will be communicated through the appropriate official channels.

The false flyer, which has been widely circulated on social media, has caused confusion among farmers and stakeholders who are eagerly awaiting updates on pricing.

Source: Graphic