COCOBOD Trashes Cocoa Price Hike Rumours

The Ghana Cocoa Board has entreated the public to disregard speculations suggesting new cocoa prices have been announced.

“The public is advised to disregard any statement or news suggesting a decision or announcement on the producer price of cocoa,” it said in a dated statement on April 9.

It explained that the Producer Price Review Committee (PPRC), which is responsible for reviewing and recommending the producer price, has not yet been formed.

Additionally, it further noted that the Board of Directors of the body responsible for approving such decisions was also yet to be constituted.

“In view of the aforementioned reasons, there is no way such an announcement can be made,” the statement concluded.

Currently, a tonne of cocoa sells at ¢49,000 while a bag is ¢3,100.

It was last increased in November 2024 by former President Nana Addo Dankwa Akufo-Addo.

The current government while in opposition promised to increase the price of cocoa from the current GH¢3,100 per bag to GH¢6,000.

Source: opemsuo.com/Hajara Fuseini