Financing Gaps Leave Cocoa Farmers with Unsold Produce — Frimpong-Addo

Former Deputy Minister for Food and Agriculture, Hon. Frimpong Addo, has raised concerns about a breakdown in cocoa financing, which he says has left many cocoa farmers unable to sell their produce during the peak production season.

Speaking in an interview conducted by Kofi Boakye on Nkwantannanso on Opemsuo Radio, Hon. Frimpong Addo said cocoa farmers across the country are facing unusual hardships as licensed buying companies struggle to purchase beans.

According to him, cocoa that should have been bought from farmers since October remains unsold, creating financial distress for small-scale producers.

“From October till now, cocoa farmers’ produce is still lying around. Sometimes the licensed buying companies do not even want to collect the cocoa,” he said.

He described the situation as unprecedented, noting that many farmers are unable to pay their workers despite having cocoa ready for sale.

“Imagine drying your cocoa, carrying it to the buying centre, and the buyer refuses to take it, forcing you to carry it back home. That is what farmers are experiencing,” he added.

Hon. Frimpong Addo questioned explanations that the situation is solely the result of difficulties in securing syndicated loans, arguing that cocoa purchases earlier in the year proceeded without challenges.

“From January to August, cocoa was being bought without any problem. It was only when production increased significantly that we were told there was no money. That is what I do not understand,” he stated.

He further highlighted the imbalance in the global cocoa value chain, noting that although Ghana and Côte d’Ivoire produce more than 70 percent of the world’s cocoa, producers receive a small share of the industry’s value.

“The global cocoa industry is worth over 120 billion dollars, yet the producers earn less than six billion dollars,” he said.

The former Deputy Minister warned that unless financing challenges are addressed and farmers are assured of timely payment for their produce, the livelihoods of small-scale cocoa farmers will remain at risk.