COCOBOD Denies Claims of Increased Cocoa Earnings to 70% of Global Market Price

The Ghana Cocoa Board (COCOBOD) has swiftly denied circulating reports suggesting that the government has raised the earnings of cocoa farmers to 70% of the world market price.

The confusion began following a post made by the Agriculture Minister, where he claimed that the government had decided to increase the percentage from the initial 60% proposal to 70% to motivate cocoa farmers, boost production, and strengthen Ghana’s position as the world’s second-largest cocoa producer.

The statement, shared on social media, created an uproar among the public, especially cocoa stakeholders, who were hopeful of an increase in their earnings.

However, COCOBOD took to its own social media channels to debunk the rumors. In a statement, the Board clarified that the information was false.

“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 post read.

COCOBOD further urged the public and cocoa farmers to disregard the fake news and rely only on official communications from the Cocoa Board and the Ministry of Food and Agriculture.

While cocoa farmers have long advocated for better pay to improve their livelihoods, the confusion surrounding this false report has sparked concern about the transparency of communications surrounding cocoa pricing.

The Board’s denial emphasizes the importance of accessing accurate information directly from official sources.

COCOBOD has committed to continuing its efforts to support cocoa farmers, but for now, there has been no confirmed increase in their earnings from the government.