Accra, Feb. 12, – Ghana Cocoa Board (COCOBOD) expects liquidity in the coming days to settle payment arrears owed to cocoa farmers, following decisive Cabinet intervention.
CEO Dr. Randy Abbey disclosed this during a courtesy call by Ghana Journalists Association (GJA) leadership and senior editors. He said Cabinet addressed the crisis triggered by a shift from syndicated loans to a buyer-funded model, where international buyers advance funds to Licensed Buying Companies (LBCs).
Crisis Context
Dr. Abbey explained:
82% of crop sold (580,000+ tonnes) before global price crash
70,000 tonnes remaining at guaranteed GH¢5,040 per tonne
Falling world prices made Ghana cocoa uncompetitive, stalling buyer advances
Cabinet Response:
Increased farmer share from 70% to 90% of new price
Directed immediate liquidity injection for unpaid farmers
Promoting local processing to absorb remaining crop
Optimism for Recovery
"Cabinet has dealt with it decisively. I'm expecting liquidity in the next few days," Dr. Abbey stated, expressing hope for 2026/2027 reforms.
GJA President Albert Dwumfour described the situation as inherited, urging balanced reporting to avoid market disruption.
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