COCOBOD Dismisses Rumours of New Cocoa Producer Price Announcement
The Ghana Cocoa Board (COCOBOD) has released an official statement calling on the general public, stakeholders, and members of the media to ignore recent reports claiming that a new producer price for cocoa has been announced. COCOBOD clarified that these claims are false and misleading, as the institutional processes required to determine and approve such a decision have not yet been activated.
In the statement issued on April 10, 2025, COCOBOD emphasized that the necessary structures needed to make a legitimate decision on the producer price are currently not in place. It stated that there is no basis for any announcement or decision regarding a new price for cocoa, and any information suggesting otherwise should be disregarded.
A key reason given for this position is the absence of a Board of Directors at COCOBOD. The Board, which plays a critical role in decision-making, including price approval, has not yet been constituted. Without this body in place, COCOBOD explained, there is no legal or administrative authority to approve or announce a new producer price.
Furthermore, COCOBOD pointed out that the Producer Price Review Committee (PPRC), which is mandated to assess and recommend new producer prices, has not yet been convened or briefed. The PPRC’s involvement is a crucial part of the pricing process, and its absence further reinforces the Board’s stance that no price announcement can be legitimately made at this time.
“In view of the aforementioned reasons, there is no way such an announcement can be made,” the statement concluded, highlighting the importance of following due process in matters concerning the cocoa sector.
COCOBOD is, therefore, advising all interested parties to rely only on official communication from the Board and to treat any unofficial reports or media speculation as unfounded. It assured the public that when the appropriate structures are in place and a decision is made, a formal and transparent announcement will be communicated through the right channels.
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