Minority Calls for Removal of COCOBOD CEO Randy Abbey Over Cocoa Price Cut

The Minority caucus in Parliament has called on President John Dramani Mahama to remove Dr. Randy Abbey from his position as Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), citing mounting challenges within the cocoa industry.

According to the opposition, the government’s recent decision to lower the cocoa producer price poses a significant threat to farmers’ incomes and livelihoods. They estimate that the 28.6 percent price cut will negatively affect more than one million cocoa farmers and their dependents across the country.

Addressing the media in Accra on Thursday, February 12, Kojo Oppong Nkrumah, Ranking Member on Parliament’s Economy and Development Committee, condemned the move, describing it as unfair to farmers already grappling with rising production costs.

He indicated that the Minority would not stand by while cocoa farmers bear the brunt of the decision, adding that they are ready to back any farmer-led demonstrations against the revised pricing.

The reaction follows the government’s announcement setting a new producer price of GH¢41,392 per tonne, equivalent to GH¢2,587 per bag, for the remainder of the 2025–2026 crop season, effective February 12.

This marks a notable drop from the earlier price of GH¢51,660 per tonne that was announced at the beginning of the season.

Meanwhile, Finance Minister Dr. Cassiel Ato Forson has defended the adjustment, explaining that shifts in the global cocoa market necessitated the revision. He stated that the measure is intended to stabilise the cocoa sector, rebuild investor confidence, and ensure farmers receive payments promptly.