Ghana Cocoa Board Disburses GH¢237 Million to Cocoa Farmers Amid Sector Reforms

The Head of Public Affairs at the Ghana Cocoa Board (COCOBOD), Jerome Kwaku Sam, has confirmed that the Board has paid GH¢237 million to cocoa farmers for the purchase of 50,000 metric tonnes of cocoa beans.

The payment comes at a time when Ghana’s cocoa industry is facing significant challenges, with many farmers raising concerns over prolonged delays in receiving their money.

In a Facebook post on Wednesday, February 18, Mr. Sam stated that COCOBOD has begun settling outstanding payments, noting that GH¢237 million has already been released to cover the 50,000 metric tonnes.

The government has recently rolled out new reforms in the sector, including a downward adjustment of the producer price for the remainder of the 2025/2026 crop season. The revised price now stands at GH¢41,392 per tonne, equivalent to GH¢2,587 per bag.

Officials explained that the price review is aimed at protecting farmers from the impact of declining global cocoa prices.

In addition, COCOBOD has disclosed that it expects to save approximately GH¢5 million every month following salary cuts for its executive management and senior staff. Under the new directive, executive management salaries have been reduced by 20 percent, while senior staff will take a 10 percent cut.

The salary reductions took immediate effect and will remain in force for the rest of the 2025/2026 crop year as part of broader efforts to ease liquidity pressures within the cocoa sector.