News:
February 5, 2026
The Minority in Parliament has issued a stark warning that Ghana’s cocoa sector is in severe distress, demanding the immediate payment of over GH¢10 billion owed by the Ghana Cocoa Board (COCOBOD) to Licensed Buying Companies (LBCs). The Caucus alleges this massive debt has crippled the supply chain, leaving farmers unpaid for produce sold since November 2025.
At a press conference on Thursday, Dr. Isaac Yaw Opoku, Ranking Member on the Food, Agriculture and Cocoa Affairs Committee, stated that LBCs are financially paralyzed because COCOBOD has defaulted on reimbursements for cocoa already purchased and delivered. He emphasized the buying companies’ inability to pay farmers is a direct result of this institutional debt, not negligence.
“The LBCs have borrowed from banks and off-taker traders to pre-finance the harvest, but their funds have been locked up without reimbursement,” Dr. Opoku explained. This logjam has forced desperate farmers to sell their cocoa on credit, accept heavily discounted prices, or return home with their harvest unsold.
The Minority described the situation as unprecedented, citing dire consequences for the national economy due to cocoa’s critical role in export earnings and rural livelihoods. They firmly dismissed COCOBOD’s claims that sufficient funds had been released to LBCs, labeling such statements as misleading.
“The reality is that farmers are not being paid for cocoa sold since November last year,” the Caucus stated. They highlighted that for farmers relying solely on cocoa income, the past three months have been devastating, with some unable to afford basic necessities.
Citing specific cases of hardship, the Minority reported a farmer who sold 100 bags of cocoa but could not afford medication for high blood pressure, and another whose wife went without prescribed drugs due to lack of funds. Others are struggling to pay their children’s school fees.
In a poignant claim, the Caucus asserted, “For the first time in the history of this country, cocoa farmers had to postpone Christmas celebrations because they had not been paid for their produce.”
The Minority further accused the government of reneging on key 2024 campaign promises, specifically pledges to increase the producer price of cocoa to between GH¢6,000 and GH¢7,000 per bag. The current price stands at GH¢3,625 per bag, and they criticized reports of a potential further reduction to facilitate payments as “the mother of all betrayals.”
Alleging mismanagement, the Caucus claimed the government has prioritized administrative restructuring—including mass transfers and promotions at COCOBOD—over farmer welfare, incurring millions in avoidable costs while the payment crisis deepens.
The Minority concluded by demanding an immediate government apology, the full reimbursement of all outstanding payments to LBCs, and prompt settlement to farmers. “Cocoa farmers are not beggars. Paying them promptly is not a favour; it is an obligation,” their statement declared.
Ghanamps.com