COCOBOD announces record producer prices and zero-borrowing milestone in cocoa financing

Joseph Boahen Aidoo, CEO of the Ghana Cocoa Board (COCOBOD), announced significant achievements in financing cocoa purchases and supporting farmers.

He highlighted the transition from 32 years of external borrowing to zero borrowing since 2017, using pre-financing from Licensed Buying Companies to reduce costs.

COCOBOD has raised producer prices to GHS 48,000 per ton in 2024, a cumulative increase of 531.58% since 2016/17.

Additionally, Aidoo mentioned the creation of a cocoa farmer database and the launch of a Cocoa Farmers Pension Scheme, aimed at improving farmer welfare and ensuring long-term financial stability.