COCOBOD rejects claims of officials engaging in private cocoa buying

Ghana Cocoa Board has dismissed claims that some of its officials are involved in private cocoa purchasing activities, insisting that cocoa buying operations across the country are conducted strictly through licensed buying companies.

The concerns were recently raised by the Ghana National Cocoa Farmers Association, which argued that the alleged practice could undermine confidence within the cocoa sector, distort competition and worsen financial pressures across the industry.

However, speaking to journalists after the official announcement of the 2027 World Cocoa Foundation Partnership Meeting 2027, Chief Executive Officer of COCOBOD, Dr. Randy Abbey, described the allegations as false and unfounded.

According to him, COCOBOD officials do not directly purchase cocoa, explaining that the Board only licenses private buying companies, which then operate through agents across cocoa-growing districts

Dr. Abbey maintained that cocoa purchases are carried out solely by agents of licensed buying companies acting on behalf of COCOBOD.

“Those who buy cocoa are the agents of the licensed buying companies. Officials of Cocoa Board do not buy cocoa. The Cocoa Board licenses buying companies who have agents in the districts purchasing cocoa on their behalf. These companies are buying the cocoa on behalf of Cocoa Board, so how can anybody say that an official of Cocoa Board is out there buying cocoa? It is born out of ignorance,” he stated.

Meanwhile, Deputy Finance Minister Thomas Nyarko Ampem said the upcoming global cocoa conference will provide an important platform for stakeholders to push for more sustainable pricing models aimed at improving farmer livelihoods.

He noted that although cocoa supports a global chocolate industry worth more than 100 billion dollars annually, many cocoa farmers continue to earn incomes below sustainable levels.

“Cocoa directly affects millions of farmers according to the Fair Trade Report. Yet despite sustaining the global chocolate industry worth well over $100 billion annually, many cocoa farmers continue to live below income levels and that situation must concern all of us. The future of chocolate cannot be secured if the future of cocoa farmers remains uncertain,” he said.

The 2027 World Cocoa Foundation Partnership Meeting will take place in Accra from March 17 to 18, 2027, under the theme “From Origin to Resilience.”

The conference is expected to bring together governments, cocoa traders, chocolate manufacturers, development partners and sustainability advocates to discuss the future of the global cocoa industry.

Authorities believe hosting the event will further strengthen Ghana’s influence in global cocoa policy discussions while highlighting ongoing efforts to improve farmer welfare, sustainability and value addition within the sector.

Source: Citi Business News