TIG Post

Tag: COCOBOD

  • Galamsey, poor weather and smuggling contribute to $500m decline in Ghana’s cocoa income

    Galamsey, poor weather and smuggling contribute to $500m decline in Ghana’s cocoa income

    Illegal mining activities, adverse weather conditions, the Cocoa Swollen Shoot Virus Disease (CSSVD), and widespread smuggling have collectively caused a substantial drop in Ghana’s cocoa revenue for the first quarter of 2024.

    Head of Public Affairs at COCOBOD, Fiifi Boafo, outlined these critical factors during an interview on JoyNews Desk, explaining that they contributed to a staggering decline of over $500 million in cocoa revenue, as reported by the Bank of Ghana.

    “Illegal mining activities are cutting off farmers from their farms,” he stated, highlighting the detrimental impact of these illicit activities on cocoa production.

    In addition to illegal mining, adverse weather conditions exacerbated the revenue decline.

    The Cocoa Swollen Shoot Virus Disease (CSSVD) has further compounded the situation, leading to the loss of over 500,000 hectares of cocoa farms.

    “Over $200 million was spent to rehabilitate farms affected by Cocoa Swollen Shoot Virus Disease,” Boafo explained, underscoring the scale of the problem.

    To address these issues, COCOBOD has implemented several measures. Legal actions against smugglers and illegal miners are underway, with “five individuals already incarcerated and numerous cases pending in court,” Boafo revealed.

    COCOBOD is also providing financial support to cocoa farmers.

    “We are motivating cocoa farmers by paying them more for their produce,” Mr Boafo stated.

    Furthermore, COCOBOD’s legal team is supporting farmers in prosecuting miners who encroach on their farms.

    The environmental impact of illegal mining has also been profound, with polluted water bodies adversely affecting irrigation.

    “Our legal team is assisting farmers in prosecuting miners who disrupt the use of their farms,” he said.

    Despite the production setbacks, Boafo expressed confidence in COCOBOD’s ability to secure necessary funding.

    “Our production challenges will not hinder our access to the cocoa syndicated loan,” he assured, highlighting the organization’s commitment to maintaining financial stability.

  • Ghana records over $500m decline in cocoa revenue due to galamsey, others

    Ghana records over $500m decline in cocoa revenue due to galamsey, others

    Ghana’s cocoa industry has suffered a significant financial setback in the first quarter of 2024, with revenue dropping by over $500 million.

    This alarming decline has been attributed to a combination of illegal mining activities, adverse weather conditions, the Cocoa Swollen Shoot Virus Disease (CSSVD), and rampant smuggling.

    Fiifi Boafo, Head of Public Affairs at COCOBOD, detailed the key factors contributing to this downturn during an interview on JoyNews Desk. Boafo highlighted the severe impact of illegal mining activities on cocoa production.

    “Illegal mining activities are cutting off farmers from their farms,” he stated, emphasizing how these illicit activities disrupt cocoa harvesting.

    The environmental consequences of illegal mining have also been detrimental. Polluted water bodies, essential for irrigating cocoa farms, have compounded the challenges faced by farmers. “Illegal mining activities are polluting water bodies needed to irrigate cocoa farms,” Boafo noted.

    Adverse weather conditions have further exacerbated the situation. The El Niño phenomenon, which caused warmer and drier conditions, has led to lower cocoa yields. “The El Niño phenomenon caused warmer and drier conditions, leading to lower yields,” Boafo explained.

    Public Affairs Manager of Cocobod

    Adding to these woes is the Cocoa Swollen Shoot Virus Disease (CSSVD), which has decimated over 500,000 hectares of cocoa farms. Boafo underscored the scale of this problem, noting, “Over $200 million was spent to rehabilitate farms affected by Cocoa Swollen Shoot Virus Disease.”

    In response to these challenges, COCOBOD has implemented several measures. Legal actions against smugglers and illegal miners are underway, with “five individuals already jailed and several cases pending in court,” Boafo disclosed. COCOBOD is also providing financial support to cocoa farmers by offering higher payments for their produce. “We are motivating cocoa farmers by paying them more for their produce,” Boafo stated.

    Additionally, COCOBOD’s legal team is assisting farmers in prosecuting miners who interfere with their farms. “Our legal team is helping farmers who seek to prosecute miners who interfere with the usage of their farms,” Boafo said.

    Despite the production shortfall, Boafo remains optimistic about COCOBOD’s ability to secure necessary funding. “Our production shortfall would not affect our chances of accessing the cocoa syndicated loan,” he assured, indicating COCOBOD’s confidence in maintaining financial stability.

    The cocoa industry’s challenges highlight the urgent need for sustainable solutions to protect and support Ghana’s cocoa farmers. With continued efforts and strategic interventions, COCOBOD aims to mitigate these issues and restore the industry’s economic health.

  • Provide documents to prove I left you nothing at COCOBOD – Opuni dares Boahen Aidoo

    Provide documents to prove I left you nothing at COCOBOD – Opuni dares Boahen Aidoo

    The former Chief Executive of COCOBOD, Dr. Stephen Kwabena Opuni, has publicly refuted claims by his successor, Joseph Boahen Aidoo, regarding the financial status of the institution he led for four years during the Mahama administration.

    Dr. Opuni dismisses Mr. Aidoo’s assertion that he inherited empty coffers in 2017.

    Three days ago, Mr. Aidoo insisted that COCOBOD was facing significant financial challenges when he assumed office in January 2017.

    However, Dr. Opuni, who has remained silent since leaving office seven years ago, has now challenged Mr. Aidoo to publish the audited financial report of COCOBOD to provide documentary evidence that there was no money.

    There are also claims of a handing-over note from Dr. Opuni to Mr. Aidoo, which paints a different picture from what the current COCOBOD boss suggests. Dr. Opuni believes this will enable the public to ascertain the true state of affairs at COCOBOD at the time.

    “It is trite knowledge that before you secure any loan, you need to show your audited financial statement; therefore, if Joseph Boahen Aidoo wants Ghanaians to know that he inherited a broke institution, he should make COCOBOD’s audited financial statement for the 2016/2017 financial year public to back his claims,” Dr. Opuni stated in a release issued by his office on Thursday, June 13, 2024.

    Mr. Aidoo, in an interview with Accra-based Joy FM on June 12, 2024, claimed, “They bought about 600,000 metric tonnes before we came in. With cocoa, the peak harvest period is October, November, December, and January. So, within the first quarter of the season, from October to December 2016, the previous administration bought over 600,000 metric tonnes. When we assumed office, there was no money; meanwhile, we had to buy cocoa till the end of the season from January to September (2017).”

    On June 13, 2024, Dr. Opuni countered Mr. Aidoo’s claim using his own words. He explained that COCOBOD secured a $1.8 billion syndicated loan to cover COCOBOD’s activities from October 2016 to September 2017 cocoa crop season. Dr. Opuni noted that COCOBOD sold forward over 600,000 tonnes of cocoa at $2,993.60 per tonne, which was used as collateral to secure the loan.

    “Just multiply $2,993.60 by the over 600,000 stated by Mr. Boahen Aidoo, and you would realize that as of January 2017, COCOBOD had already bought enough cocoa from our cocoa farmers to pay off the $1.8 billion syndicated loan COCOBOD secured,” Dr. Opuni stated.

    Available records show that even after buying over 600,000 metric tonnes between October and December 2016, License Buying Companies (LBCs) still had some of the monies COCOBOD had advanced to them, which they were expected to use to buy more cocoa.

    During his tenure from January 2014 to early January 2017, COCOBOD secured syndicated loans at about 1.5% interest for each loan. Dr. Opuni highlighted that COCOBOD always had the option to return to the syndicated banks for an additional $200 million loan if more cocoa needed to be bought, which was more prudent than taking loans from local banks at much higher rates.

    “It was prudent to take a loan at 1.5% instead of going for a loan from the local banks at 30% or more. It is, therefore, strange that the current management of COCOBOD under Boahen Aidoo, instead of taking advantage of the $200 million option from the syndicated loan banks, always resorts to the local banks and the Central Bank. This is nothing short of gross financial mismanagement,” Dr. Opuni emphasized.

    Dr. Opuni asserted that from January 2014 to early January 2017, COCOBOD never took loans from the Central Bank or local banks to undertake any COCOBOD activity. However, under Mr. Aidoo’s administration, COCOBOD has been taking loans from the Central Bank and local banks even after securing syndicated loans.

    Apart from 2017, when Mr. Aidoo admitted taking a 2 billion Ghana Cedi loan from the Central Bank, the administration has continued to take more loans from local banks and the Central Bank in subsequent years at higher costs, leading to COCOBOD’s indebtedness to local banks amounting to about 20 billion Ghana Cedis.

    For instance, while Dr. Opuni secured syndicated loans at 1.5%, the current COCOBOD management under Mr. Aidoo took a syndicated loan of $800 million in 2013/2024 at 8%, reflecting a lack of confidence in COCOBOD’s financial credibility.

    According to Reuters News Agency, COCOBOD is unable to deliver 350,000 tonnes of cocoa to their clients abroad, who have contracts with COCOBOD at $2,600 per tonne. The current world price of cocoa is above $9,000 per tonne, indicating that Ghana stands to lose about $6,000 or more per tonne of cocoa, potentially resulting in a loss of around $2 billion.

    Furthermore, cocoa production under Mr. Aidoo’s management continues to decline, adding to the challenges faced by COCOBOD. Dr. Opuni’s revelations and challenges to the current administration highlight the need for transparency and accountability in managing the nation’s vital cocoa industry.

  • Farmers to receive over 40,000 rehabilitated cocoa farms from COCOBOD in July

    Farmers to receive over 40,000 rehabilitated cocoa farms from COCOBOD in July

    In the coming month, more than 40,000 cocoa farmlands, temporarily used for rehabilitation to enhance production, will be returned to their original owners.

    Initially scheduled for release in April, the Ghana Cocoa Board (COCOBOD) postponed the handover to July.

    The rehabilitation efforts aim to counteract declining annual yields, with the goal of boosting income for cocoa farmers and stakeholders.

    According to Fiifi Boafo, COCOBOD’s Head of Public Affairs, the farms will officially be handed back in July, as reported by Citi Business News.

    “The over 40,000 farms will be handed over next month. That is in July. Initially, it was planned to take place in April, but there was a change in plan.

    “So the decision is that July next month, those farms will be handed over to the owners. I am referring to the farmers who originally owned these farms, “Mr. Boafo noted.

  • COCOBOD to release over 40,000 rehabilitated cocoa farms in July

    COCOBOD to release over 40,000 rehabilitated cocoa farms in July

    Ghana Cocoa Board (COCOBOD) has announced that over 40,000 farmlands belonging to cocoa farmers, which were temporarily taken for rehabilitation to enhance production, are set to be returned next month.

    The release, initially scheduled for April, was postponed to July.

    The rehabilitation project aims to address the decline in annual cocoa yields, ultimately leading to increased income for farmers and stakeholders in the cocoa industry.

    The head of Public Affairs at COCOBOD, Fiifi Boafo, confirmed to Citi Business News that the handover of the farms will indeed take place in July.

    Mr. Boafo stated, “The over 40,000 farms will be handed over next month. That is in July. Initially, it was planned to take place in April, but there was a change in plan. So the decision is that July next month, those farms will be handed over to the owners. I am referring to the farmers who originally owned these farms.”

    The rehabilitation of these cocoa farms is expected to significantly improve cocoa production in Ghana, which is one of the leading cocoa-producing countries in the world.

  • COCOBOD recorded GHC2bn profit in 2022/2023 – CEO

    COCOBOD recorded GHC2bn profit in 2022/2023 – CEO

    Joseph Boahen Aidoo, the Chief Executive Officer of the Ghana Cocoa Board (Cocobod), has revealed that the organization recorded a significant profit of over GH₵2 billion for the 2022/2023 fiscal year.

    This announcement comes as a stark contrast to Cocobod’s financial performance in 2021, when it recorded a loss of GH₵2 billion.

    Mr. Aidoo explained that despite facing significant financial challenges when he assumed office, Cocobod has turned the corner to generate more revenue for the cocoa industry.

    He attributed this success to strategic decisions made by the organization, including maintaining farmer payments despite financial strain.

    “It was a nationally prudent decision that Cocobod maintained the money it paid to farmers which resulted in losses for Cocobod. This is because we were torn between the national interest and the Cocobod interest. The national interest here is the cocoa industry itself,” Mr. Aidoo explained in an interview on Joy FM’s Super Morning Show.

    Describing the cocoa industry as Ghana’s backbone and oxygen, Mr. Aidoo noted that Cocobod was justified in prioritizing national interest over its immediate financial interests to prevent further erosion of the cocoa farming sector.

    The sector has faced numerous challenges, including adverse weather conditions, bean diseases, and illegal gold mining activities that displace cocoa farms.

    Additionally, Ghanaian farmers have been smuggling more cocoa beans to neighboring countries to sell them at higher prices than those offered by the state purchasing price, further diminishing the available crop for delivery in Ghana.

    Reports indicate that Ghana, the world’s second-largest cocoa producer, is considering delaying the delivery of up to 350,000 tons of beans to the next season due to poor crop yields.

    This situation has led chocolate makers worldwide to raise prices for consumers, as the value of cocoa has more than doubled this year following a third consecutive year of poor harvests in Ghana and Ivory Coast, which together account for 60% of global production.

  • Previous administration secured $1.8bn syndicated loan in 2016 – COCOBOD CEO

    Previous administration secured $1.8bn syndicated loan in 2016 – COCOBOD CEO

    Chief Executive Officer of the Ghana Cocoa Board (Cocobod), Joseph Boahen Aidoo, has disclosed that the previous administration he took over from secured. $1.8 billion in 2016.

    Speaking on Joy FM’s Super Morning Show, Mr. Aidoo, while sharing the significant financial challenges he encountered when he took office in January 2017, disclosed that despite this there were no funds left when he assumed leadership of Cocobod.

    According to Mr. Aidoo, the money had been spent on purchasing cocoa and covering other operational costs.

    “They bought about 600,000 metric tonnes before we came in. With cocoa, the peak harvest period is October, November, December, and January. So within the first quarter of the season, from October to December 2016, the previous administration bought over 600,000 metric tonnes,” he explained.

    “When we assumed office, there was no money, meanwhile, we had to buy cocoa till the end of the season from January to September,” he continued.

    This left Cocobod in a precarious position, needing to continue cocoa purchases without any available funds.

    Faced with this daunting task, Mr. Aidoo and his team sought assistance from the Bank of Ghana.

    “We were forced to go to the Bank of Ghana to borrow. Within that period, we bought over 300,000 metric tonnes and we had to pay the farmers, we had to pay for haulage, the buyer’s margin, and operational costs,” he said.

    The Bank of Ghana acted as an intermediary between Cocobod and consolidated banks, facilitating a loan of over GH₵2 billion to keep operations running.

    The cocoa industry in Ghana has been beset by numerous challenges, including adverse weather conditions, bean diseases, and illegal gold mining activities that displace cocoa farms.

    Additionally, Ghanaian farmers have been smuggling more beans to neighboring countries to sell them at higher prices than those offered by the state purchasing price, further diminishing the available crop for delivery in Ghana.

    Recent reports indicate that Ghana, the world’s second-largest cocoa producer, is considering delaying the delivery of up to 350,000 tons of beans to the next season due to poor crop yields.

    This situation has led chocolate makers worldwide to raise prices for consumers, as the value of cocoa has more than doubled this year following a third consecutive year of poor harvests in Ghana and Ivory Coast, which together account for 60% of global production.

  • We borrowed from BoG when I assumed office because we were broke – COCOBOD CEO

    We borrowed from BoG when I assumed office because we were broke – COCOBOD CEO

    Chief Executive Officer of the Ghana Cocoa Board (Cocobod), Joseph Boahen Aidoo, recently shared the significant financial challenges he encountered when he took office in January 2017.

    Speaking on Joy FM’s Super Morning Show, Mr. Aidoo disclosed that despite the previous administration securing $1.8 billion in 2016, there were no funds left when he assumed leadership of Cocobod.

    According to Mr. Aidoo, the money had been spent on purchasing cocoa and covering other operational costs.

    “They bought about 600,000 metric tonnes before we came in. With cocoa, the peak harvest period is October, November, December, and January. So within the first quarter of the season, from October to December 2016, the previous administration bought over 600,000 metric tonnes,” he explained.

    “When we assumed office, there was no money, meanwhile, we had to buy cocoa till the end of the season from January to September,” he continued.

    This left Cocobod in a precarious position, needing to continue cocoa purchases without any available funds.

    Faced with this daunting task, Mr. Aidoo and his team sought assistance from the Bank of Ghana.

    “We were forced to go to the Bank of Ghana to borrow. Within that period, we bought over 300,000 metric tonnes and we had to pay the farmers, we had to pay for haulage, the buyer’s margin, and operational costs,” he said.

    The Bank of Ghana acted as an intermediary between Cocobod and consolidated banks, facilitating a loan of over GH₵2 billion to keep operations running.

    The cocoa industry in Ghana has been beset by numerous challenges, including adverse weather conditions, bean diseases, and illegal gold mining activities that displace cocoa farms.

    Additionally, Ghanaian farmers have been smuggling more beans to neighboring countries to sell them at higher prices than those offered by the state purchasing price, further diminishing the available crop for delivery in Ghana.

    Recent reports indicate that Ghana, the world’s second-largest cocoa producer, is considering delaying the delivery of up to 350,000 tons of beans to the next season due to poor crop yields.

    This situation has led chocolate makers worldwide to raise prices for consumers, as the value of cocoa has more than doubled this year following a third consecutive year of poor harvests in Ghana and Ivory Coast, which together account for 60% of global production.

  • Cocobod had no money when I took over as CEO – Joseph Boahen

    Cocobod had no money when I took over as CEO – Joseph Boahen

    The CEO of the Ghana Cocoa Board, Joseph Boahen Aidoo, has revealed the substantial financial hurdles he confronted upon assuming office in January 2017.

    During an interview on Joy FM’s Super Morning Show, Mr. Aidoo disclosed that despite the previous administration securing $1.8 billion in 2016, there were no remaining funds when he assumed leadership of Cocobod.

    He explained that the funds had been utilized for purchasing cocoa and covering operational expenses.

    “They bought about 600,000 metric tonnes before we came in. With cocoa, the peak harvest period is October, November, December, and January. So within the first quarter of the season, from October to December 2016, the previous administration bought over 600,000 metric tonnes.

    “When we assumed office, there was no money, meanwhile, we had to buy cocoa till the end of the season from January to September,” he said.

    Upon taking office, Mr. Aidoo observed that Cocobod was confronted with the formidable challenge of continuing cocoa purchases without any funds.

    He indicated that the most viable solution was for Cocobod to seek help from the Bank of Ghana.

    “We were forced to go to the Bank of Ghana to borrow. Within that period, we bought over 300,000 metric tonnes and we had to pay the farmers, we had to pay for haulage, the buyer’s margin, and operational costs.

    “We sought help from the Bank of Ghana who became an intermediary between the Board and the consolidated banks and we got over GH₵2 billion,”he explained.

    Ghana’s cocoa industry has grappled with adverse weather conditions, bean diseases, and illegal gold mining, which often displaces cocoa farms.

    Additionally, Ghanaian farmers have been smuggling more beans to neighboring countries to capitalize on higher prices, further depleting the available crop for domestic delivery.

    Reports indicate that Ghana, the world’s second-largest cocoa producer, is contemplating delaying the delivery of up to 350,000 tons of beans to the next season due to poor crops.

    Consequently, chocolate makers worldwide are increasing prices for consumers in response to cocoa prices doubling this year, driven by a third consecutive year of poor harvests in Ghana and Ivory Coast, which together account for 60% of global production.

  • Osafo-Maafo fingered once again in Opuni/Agongo trial

    Osafo-Maafo fingered once again in Opuni/Agongo trial

    In the ongoing trial of former COCOBOD Chief Executive Dr. Stephen Opuni and businessman Seidu Agongo, fresh revelations have emerged regarding the involvement of former Senior Minister Yaw Osafo-Maafo in initiating their prosecution.

    Notably, one of Mr. Osafo-Maafo’s relatives, Evelyn Keelson, serves as a state attorney prosecuting the case. Despite this, Osafo-Maafo maintains his position as Senior Presidential Advisor in the Akufo-Addo government.

    During proceedings presided over by Justice Aboagye Tandoh on Tuesday, June 11, 2024, it was disclosed that Mr. Osafo-Maafo convened a meeting in his office in 2017 to discuss the controversial lithovit liquid fertilizer at the center of the trial.

    Head of the Material Science Department at the Ghana Standards Authority, Genevieve Baah Mante, testified as a subpoenaed witness of Seidu Agongo, shedding light on the meeting’s discussions.

    “We discussed the results of the two institutions (Ghana Standards Authority and the University of Ghana’s Chemistry Department) and pointed out possible discrepancies in the reports. These included different batch numbers of the same sample supplied to the different institutions.

    “The second was the difference in environmental and testing conditions. And the third was the protocol used in testing the samples.

    “The fourth was how the sample was sampled (picked). The two institutions requested further testing of the samples.”

    Counsel for Mr Agongo, Benson Nutsukpui, then asked the witness, “All these you just told the court took place in Honourable Osafo-Maafo’s office?”

    Mrs Genevieve Baah Mante answered in the affirmative, “Yes, my lord”.

    The trial involves Dr. Opuni, Mr. Agongo, and Agricult Ghana Limited facing multiple charges related to the purchase of Lithovit Liquid Fertilizer between 2014 and 2016, including defrauding by false pretences and willfully causing financial loss to the state.

    According to Mrs. Baah Mante, the meeting in Osafo-Maafo’s office involved officials from COCOBOD and the Chemistry Department of the University of Ghana.

    They deliberated on discrepancies between test results from different institutions regarding the fertilizer.

    It was revealed that Osafo-Maafo’s involvement in the prosecution stemmed from a petition he submitted to the police CID in 2017, effectively halting an ongoing EOCO investigation into the matter.

    Despite the presence of a substantive Minister of Finance overseeing COCOBOD affairs, Osafo-Maafo’s petition led to the CID taking over the investigation, raising questions about his locus in the matter.

    When the investigator was asked about the locus and by what authority Yaw Osafo-Maafo petitioned the police when there was a substantive minister who had oversight on COCOBOD affairs, he replied:

    “My Lord, during the transition, investigation of agencies were conducted and on one of this sub committees which did the investigation recommended that investigation should be conducted into the activities of A1 during his tenure as the CEO of Ghana COCOBOD. It is on this basis that the Senior Minister signed this petition.”

    The trial has drawn attention to Osafo-Maafo’s active involvement in COCOBOD affairs and his niece’s role as a prosecutor, adding complexity to the legal proceedings.

    The revelations underscore the significance of the 2017 meeting convened by Osafo-Maafo, which followed conflicting test results regarding the efficacy of the lithovit fertilizer.

    Mrs. Baah Mante clarified that her department’s testing confirmed the presence of essential nutrients in the fertilizer, consistent with fertilizer standards.

    However, the absence of specific cocoa fertilizer standards in Ghana prevented a conclusive assessment of its suitability for cocoa.

    The testimony sheds light on the standards development process at the Ghana Standards Authority, emphasizing stakeholder involvement and adherence to international standards.

  • COCOBOD reportedly planning to borrow up to $1.5b for cocoa purchases in 2024–2025

    COCOBOD reportedly planning to borrow up to $1.5b for cocoa purchases in 2024–2025

    Ghana’s cocoa regulator intends to borrow up to $1.5 billion by September in order to finance the purchases of cocoa for 2024–2025 and compensate for low output ss per two COCOBOD sources who are aware of the arrangement.

    The world’s second-largest cocoa producer, after neighboring Ivory Coast, relies on an annual syndicated loan to fund bean purchases from farmers. This loan is typically secured at the beginning of the season in September.

    However, this year’s $800 million loan encountered delays due to the season’s low cocoa output.

    COCOBOD has since withdrawn $600 million and canceled the remainder, as the season’s cocoa output is projected to be nearly 40% below expectations, making it impossible to guarantee the full loan.

    “A request for proposal sent to banks indicates COCOBOD will borrow up to $1.5 billion next season. It is understood the banks are sizing it and together (with COCOBOD), they will decide an optimal amount,” said one COCOBOD source.

    A second source from COCOBOD expressed confidence that the syndication would proceed as planned.

    According to the same source, at least one international bank has visited Ghana to inspect cocoa farms before making a decision on the offer, with another scheduled to visit next month.

    Production is anticipated to rebound to 810,000 metric tons next season, as per the sources, who preferred not to be identified as they have not been authorized to speak to the media.

    COCOBOD did not provide a response to a request for comment.

    Ghana’s cocoa production has been impacted by adverse weather, diseases, and cocoa smuggling. It is projected to fall nearly 40% short of the target in the 2023/24 season, according to COCOBOD.

    The regulatory body stated that approximately 150,000 tons of cocoa beans were lost to smuggling and illegal gold mining, locally known as galamsey, in the 2022/23 season.

    It anticipates even greater losses this season due to a global increase in cocoa prices, which serves as an incentive for more smuggling.

    Between 2018 and 2024, the swollen shoot virus decimated around 590,000 hectares of farmland, according to COCOBOD.

    One source expressed confidence that Ghana would still meet next season’s target of 810,000 tons, citing expected improvements in weather conditions and increased output from rehabilitated cocoa farms.

    Ghana’s cocoa export revenue plummeted by nearly 50% year-on-year in the first four months of the year, according to central bank data released this week.

  • Scholarship scheme now Education Trust – COCOBOD

    Scholarship scheme now Education Trust – COCOBOD

    The Ghana Cocoa Board (COCOBOD) has clarified its decision to discontinue its longstanding scholarship program, unveiling a new educational initiative in its stead.

    This shift comes in response to the government’s implementation of free senior high school education.

    COCOBOD announced the cessation of its scholarship program, which historically aided the education of children of cocoa farmers, citing the redundancy brought about by the free SHS policy.

    In a statement released on Thursday, COCOBOD introduced the Cocoa Board Education Trust, aimed at enhancing primary school infrastructure in underserved cocoa-growing regions.

    However, COCOBOD emphasized that some individuals misunderstood this transition as the dissolution of the scholarship program.

    The board stressed that the redirection of resources signifies not the termination of their educational support but rather a strategic reallocation to address more urgent educational needs.

    The newly established trust seeks to bridge the gap in infrastructure between rural and urban schools by providing vital resources such as classrooms, libraries, teachers’ residences, and other facilities to create an enabling learning environment.

    COCOBOD urged the public to endorse this transition, highlighting that the trust represents a broadening of their efforts to meet the changing educational requirements in rural communities.

  • BoG Governor named chair of COCOBOD’s educational trust fund

    BoG Governor named chair of COCOBOD’s educational trust fund

    Governor of the Bank of Ghana, Dr. Ernest Addison, has been appointed as the chairman of a newly formed five-member committee tasked with overseeing COCOBOD’s educational trust fund.

    The committee comprises key figures such as Dr. Eric Nkansah, Director General of the Ghana Education Service (GES), Bismarck Fuachie, the 2022 National Best Cocoa Farmer, and officials from COCOBOD including Dr. Emmanuel A. Opoku, Ray Ankrah, and Francis Opoku.

    The primary objective of the committee is to enhance primary educational infrastructure in cocoa-growing regions, aiming to benefit the children of cocoa farmers in underserved areas.

    During the committee’s inauguration in Accra on Monday, May 20, Dr. Addison emphasized their commitment to making a meaningful difference in the lives of cocoa farmers and their communities through education.

    “I acknowledge the calibre of individuals chosen to serve with me on the trust, their collective experience and expertise will undoubtedly enrich our effort and lead us towards success.

    “I have every confidence that their dedication and insights will be invaluable in advancing the goals of the trust. Having previously served as the chairman of the COCOBOD scholarship scheme for a few years now, I am deeply humbled once again to be entrusted with a leadership role this time with the COCOBOD educational trust fund.”

  • COCOBOD scraps Scholarship Scheme due to Free SHS initiative

    COCOBOD scraps Scholarship Scheme due to Free SHS initiative

    The Ghana Cocoa Board (COCOBOD) has announced the termination of its long-standing scholarship scheme, attributing this decision to the implementation of the government’s Free Senior High School (SHS) initiative.

    In place of the scholarship program, COCOBOD has launched the Cocoa Board Education Trust, which focuses on providing essential primary school infrastructure in underserved cocoa-growing communities.

    The chairman of the board, Peter Mac Manu, explained that the Free SHS initiative has significantly impacted the relevance of the scholarship scheme. “As we bid farewell to the Scholarship Scheme, we must look forward and prioritise the continued educational advancement of the cocoa farming community. It’s with this vision that the board of directors has decided to establish the Ghana Cocoa Board Education Trust.

    The COCOBOD Scholarship Scheme had been providing financial support to students from cocoa-farming communities for many years.

    However, with the introduction of Free SHS, the board has chosen to redirect its resources to address the need for primary school infrastructure in underserved areas.

    The newly inaugurated Cocoa Board Education Trust aims to establish model basic schools in cocoa-growing communities.

    According to Peter Mac Manu, this initiative underscores the board’s commitment to the prosperity and well-being of cocoa farmers and their children.

  • Ignore reports that composition of panel overseeing former COCOBOD boss’ case is unconstitutional – A-G

    Ignore reports that composition of panel overseeing former COCOBOD boss’ case is unconstitutional – A-G

    The Office of the Attorney-General and Ministry of Justice has dismissed media reports alleging misrepresentation regarding changes in the panel overseeing the trial of former COCOBOD CEO, Dr. Steven Opuni.

    The Attorney-General stated that these reports appear to be intentionally crafted to provoke public dissatisfaction with the Judiciary.

    In a press release issued on Tuesday, May 14, the Office refuted allegations made by The Herald and comments on social media by individuals such as Prof. Kweku Asare.

    It clarified that these claims were full of inaccuracies and insinuated that the composition of the panel during the appeal hearing on May 8, 2024, was irregular, questionable, or unconstitutional.

    The Office’s statement emphasized the need to uphold public trust in the judiciary and condemned any efforts to undermine its integrity through misleading narratives.

    It urged the public to ignore the reports, stating that the allegations were baseless and lacked merit.

    “The attention of the Office of the Attorney-General and Ministry of Justice has been drawn to deliberate misrepresentations in the media (traditional and social) about the composition of a panel to hear an appeal in the Supreme Court in a case entitled ‘Republic vrs. Dr Stephen Opuni & 2 Others’.”

    Publications in various newspapers, particularly the Herald, and commentary on social media by some persons including, Prof Kweku Asare, are laden with falsehood and contain an imputation that the composition of the panel for the hearing of the appeal on 8th May, 2024 was unusual, questionable or in violation of the Constitution.,” an excerpt of the statement said.

    A-G-Press-Release-Opuni-distortions-about-empanelling-of-Supreme-Court-1Download
  • Dr Opuni’s Trial: ‘You’ve no power to do that – ASEPA drags Chief Justice over panel changes

    Dr Opuni’s Trial: ‘You’ve no power to do that – ASEPA drags Chief Justice over panel changes

    Alliance for Social Equity and Public Accountability (ASEPA) criticised Ghana’s Chief Justice, Justice Gertrude Torkonoo, following reports of sudden changes in the Supreme Court panel overseeing the appeal of Dr. Stephen Opuni, the former CEO of COCOBOD, and businessman Seidu Agongo.

    In a statement released on Monday, May 13, 2024, the civil society organisation asserted that the Chief Justice’s abrupt alterations to the panel handling the case of the former COCOBOD CEO constitute interference in the administration of justice.

    ASEPA added that the action of the Chief Justice is a violation of Article 157(3) of the 1992 Constitution, which provides that “no person sitting in a Superior Court for the determination of any cause or matter shall, having heard the arguments of the parties to that cause or matter and before judgement is delivered, withdraw as a member of the court or tribunal, or as a member of the panel determining that cause or matter, nor shall that person become functus officio in respect of that cause or matter, until judgement is delivered.

    “We find it extremely unusual that a panel would be reconstituted in such fundamental terms without an explanation from the Court.

    In our view, the sudden move raises the possibility of judicial interference, undermines judicial independence, and casts a negative slur on the administration of justice,” part of the statement signed by the Executive Director of ASEPA, Mensah Thompson, reads.

    “We remind the Chief Justice that her power to empanel is not a constitutional power. It is exercised as a result of the Court’s norms.

    Furthermore, she has no power to interfere with the operations of a constituted panel. Therefore, if she reshuffled the Opuni panel, then she acted ultra vires the Constitution.

    We have no doubt that the reshuffling of panels is contra to Article 296, which calls for administrative powers to be exercised without caprice,” it added.

    The group also noted that “it is this propensity for abuse and interference that forms the basis of why ASEPA has always advocated for the amendment of the law to make the process of empanelment a purely administrative process, away from the quasi-political clutches of the Chief Justice and putting it right in the hands of the Registrar of the Supreme Court, who is a permanent officer of the Court.”

    A report by theheraldghana.com revealed that the panel for the case underwent a last-minute change on the day of judgement, leaving many legal experts, including Dr. Opuni’s counsel, Lawyer Samuel Codjoe, perplexed.

    Both the legal teams of the plaintiff and the accused individuals had presented their arguments before an earlier panel and submitted their written submissions, anticipating the court’s verdict.

    The original panel, consisting of Justice Mariama Owusu (presiding), Justices Yaw Darko Asare, Emmanuel Yonny Kulendi, George Kingsley Koomson, and Henry A. Kwofie, was replaced. The new panel was composed of Chief Justice Gertrude Torkonoo (presiding), Justices Mariama Owusu, Henrietta Mensa-Bonsu, Yaw Darko Asare, and Ernest Gaewu.

    Dr. Opuni, businessman Seidu Agongo, and Agricult Ghana Limited are facing 27 charges, including defrauding by false pretences, wilfully causing financial loss to the state, corruption by public officers, and contravention of the Public Procurement Act.

  • We have returned $250m loan procured from ADB for cocoa farm irrigation – COCOBOD

    We have returned $250m loan procured from ADB for cocoa farm irrigation – COCOBOD

    The Chief Executive Officer (CEO) of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has revealed that the organization has reimbursed $250 million obtained from the African Development Bank earmarked for irrigation initiatives in cocoa farms.

    Mr Aidoo explained that the Ghana Irrigation Authority, serving as consultants for the project’s execution, advised against its feasibility due to the contamination of rivers by illegal mining activities, posing a threat to cocoa trees.

    “When Cocoa Board went to the African Development Bank to secure some US$600 million, then we had to return $250 million. Part of that money was intended for irrigation.

    “We commissioned the Ghana Irrigation Development Authority to do a pre-appraisal for our assessment, and the report we brought was that almost all the rivers were contaminated.”

    He stressed that without addressing illegal mining activities, the cocoa industry remains at risk.

    Mr Aidoo highlighted that most rivers in cocoa-growing regions are polluted, rendering the water unfit for cocoa cultivation.

    This predicament, he noted, has compelled farmers to incur additional expenses by transporting water from their homes to their farms.

    “Previously, the farmer gets to the nearest stream around the farm, and then he fetches the water to do the mass spraying and all that. But now, you cannot, because the leaves have process, which we call the stomata.

    “And once you spray this muddy water onto it, the mud is going to block, this stomata and within a short time, you find all the leaves coming down. The trees will die. You cannot also use it for irrigation because it means that you have to be changing your filters almost every day,” he said.

  • COCOBOD intercepts 634 bags of cocoa being smuggled out of Ghana

    COCOBOD intercepts 634 bags of cocoa being smuggled out of Ghana

    The National Anti-Cocoa Smuggling Task Force under the Ghana Cocoa Board (COCOBOD) has effectively intercepted 634 bags of cocoa beans destined for smuggling out of Ghana, within the Eastern Region.

    This accomplishment follows a month-long operation fueled by intelligence-driven strategies.

    On April 15, authorities seized a truck transporting 504 bags of cocoa beans concealed within poultry feed products.

    Subsequently, on May 7, another 130 bags of cocoa beans, hidden beneath gravel in a tipper truck, were confiscated in Mpraeso, Kwahu South Municipality.

    The suspects, Kwasi Edem (55) and Dennis Hodo (28), a tipper truck driver, were apprehended during an attempt to cross the Afram River by ferry from Suhum to Kwahu Adawso, as they sought to exit the Volta Region towards Togo.

    They are currently in police custody at the Mpraeso Central Police Station, cooperating with ongoing investigations.

    Simultaneously, the police have wrapped up inquiries into the initial arrest and are set to arraign the suspect on Wednesday, May 8.

    Emmanuel Atta Ofori-Snr, the Municipal Chief Executive for Kwahu South, confirmed to Agoo FM that National Security had identified the Kwahu area as a significant transit point for smugglers since last year.

    Consequently, the District Security Council remains on heightened alert to combat such illicit activities.

  • Opuni joined COCOBOD after test on lithovit was completed – CRIG scientist reveals

    Opuni joined COCOBOD after test on lithovit was completed – CRIG scientist reveals

    The prosecution’s claim that former COCOBOD Chief Executive, Dr. Stephen Opuni instructed CRIG scientists to hasten the testing of fertilizers, particularly lithovit, has been rebutted by a new defense witness, a soil scientist from CRIG.

    Court proceedings have unveiled that even prior to Dr. Opuni’s assumption of office, CRIG had completed its evaluation of lithovit foliar fertilizer supplied by Agricult Ghana Limited and had compiled the scientific report on the product.

    Jerome Agbesi Dogbatse, who contributed to the preliminary report on lithovit foliar fertilizer, testified before the Accra High Court on April 25, 2024, stating that CRIG concluded its examination of lithovit well before November 2013.

    Joining the Cocoa Research Institute of Ghana (CRIG) on November 4, 2013, Dogbatse asserted, “I informed the police that the product (lithovit) was tested and finalized before I became part of CRIG.”

    Despite Dr. Opuni’s appointment in December 2013, he officially assumed his role as the Chief Executive of the Ghana Cocoa Board in January 2014.

    “What I told the police was that they showed me a report and asked me that have I seen this report before, and I said yes, I have seen the report before, and then they mentioned that this is the final report on the work on lithovit. then I told them if that is the final report, nobody showed it to me, but what I worked on was the draft report,” the witness said.

    “Did you tell the police anything about making comments on any report?” lawyer Benson Nutsukpui, counsel for Seidu Agongo, asked Mr Dogbatse.

    The witness replied, “Yes, my Lord, I told them that I made some comments for the attention of the lead author. That is what I meant by review.”

    The initial prosecution witness, Dr. Franklin Manu Amoah, alleged during his testimony in July 2018 that Dr. Opuni directed scientists to expedite the testing of fertilizers, including lithovit, upon assuming office.

    However, Dr. Francis Baah, who purportedly attended a meeting where this directive was issued, vehemently denied any such occurrence during proceedings on April 17, 2024.

    Additionally, Mr. James Kofi Kutsoatsi, also claimed to be present at the alleged meeting, did not join COCOBOD until April 2014, rendering his attendance impossible during the specified timeframe.

    Jerome Agbesi Dogbatse further discredited Dr. Amoah’s claim, stating that he did not meet the testing requirements for lithovit fertilizer.

    “The difference between them are that the treated seedlings are doing better than the untreated seedlings,” he recalled.

    Dogbatse’s testimony aligned with his previous statements to investigative bodies, affirming that the testing had concluded before his tenure at CRIG began.

    “It is clear and obvious that there was a calculated attempt to dirty Dr Stephen Opuni with false claims. This is just to besmirch a man with reputable credibility,” a journalist who doesn’t want to be named pointed out.

    The defense posits that Dr. Opuni’s alleged involvement seems improbable given the timeline and the presence of a substantive COCOBOD chief executive at the time.

  • COCOBOD CEO must be dismissed immediately – CSO tells govt

    COCOBOD CEO must be dismissed immediately – CSO tells govt

    A civil society organization, United Voices for Change (UVC), has demanded the immediate dismissal of Dr. Joseph Aidoo, the CEO of the Ghana Cocoa Board (COCOBOD), citing mismanagement and significant financial losses during his tenure.

    The convener for the group, Slyvestine Ronald, expressed serious concern over Dr. Aidoo’s continuous leadership at COCOBOD despite overseeing substantial financial losses within the institution.

    “We call for the dismissal of Dr. Joseph Aidoo, the CEO of COCOBOD with immediate effect. He has presided over financial decline and recklessness and has failed to fulfill his mandate of generating profit and revenue,” he added.

    Highlighting alarming financial losses incurred by COCOBOD in recent years, Ronald pointed to figures indicating losses of GH¢161.3 million in 2017, GH¢78.22 million in 2018, GH¢320.57 million in 2019, GH¢32 million in 2020, and a staggering GH¢2.44 billion in losses in 2021.

    “These losses, which began in 2016, are ballooning by the years, reaching GH¢2.44 billion in 2021,” he stated.

    The organization also held President Akufo-Addo responsible for the consistent losses incurred by State-Owned Enterprises (SOEs), including COCOBOD.

    United Voices for Change called for urgent measures to be taken to rescue the declining state institution, emphasizing its importance as a significant source of employment in Ghana.

    “To make the SOEs function again, the CSO says all CEOs who are sleeping on the job should be sacked,” he added.

  • COCOBOD worried about cost of new EU regulations on deforestation for farmers

    COCOBOD worried about cost of new EU regulations on deforestation for farmers

    The Chief Executive Officer of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has expressed serious concerns about the implementation of the new EU Regulations on Deforestation and its potential cost implications for farmers and producing countries.

    The new regulations require producing countries to comply with strict measures aimed at protecting the environmental ecosystem, leading to sustainable and ethically sourced cocoa.

    While acknowledging the noble intentions behind these regulations, which align with efforts already underway in some countries, such as Ghana, there are significant ethical and economic concerns. Countries like Ghana, Cote d’Ivoire, and Cameroon are grappling with the question of who will bear the extra costs of compliance.

    Ghana, for instance, had already initiated and completed the Cocoa Management System (CMS), a critical requirement for the cocoa traceability system, with full roll-out planned for October this year.

    However, Joseph Boahen Aidoo emphasized that the cost implications of compliance cannot be overlooked. It has the potential to not only increase the cost of cocoa but also pose social and economic challenges to farmers already struggling with difficult economic conditions in their respective countries.

    “Ghana is very much aligned to implementing the European Union regulations but this will come at a cost to farmers and producing countries which is likely to increase the cost of cocoa from Ghana, Cote d’Ivoire and Cameroun,” Mr Boahen Aidoo emphasised on Tuesday during a panel discussion at the ongoing World Cocoa Conference in Brussels, Belgium.

    Mr. Boahen Aidoo emphasized that well before the EU contemplated the new regulations, producing countries, notably Ghana, had already taken steps to tackle the numerous challenges linked to climate change and its impact on production.

    “Yes, the regulations are meant to enhance the awareness of sustainable production, but for us we were already bothered about the way climate change was affecting production and disrupting local activities, so even before the idea of the regulations were conceived, Ghana had already started mapping farms which is another element because without the polygon maps you cannot trace the source of the cocoa,” he stressed.

    However, he noted that the new regulations overlook issues related to costs and the responsibilities for the expensive technologies and tools required to implement these programs. He pointed out that these costs are prohibitive for individual farmers to bear.

    “So now the conclusion is that having done all that, who pays for the cost, right from the polygon maps, bringing in the technology and the training because you need real time data to make it work, which means that since this has not been factored in the new EU regulations, the operator has to pay and this is going to make cocoa from Ghana, Cote d’Ivoire and Cameroun very expensive.”

    In light of this, some argue that the burden of paying for the cost of compliance should be shared, with a portion borne by the wealthier nations that consume the majority of the cocoa produced.

    Given the significant investments required for compliance and the economic pressures faced by producing countries, proponents of this view believe that the EU and other developed countries should be willing to support cocoa-producing countries in their efforts to source cocoa ethically and sustainably.

  • Galamsey will cost Ghana its premium position in international cocoa market – COCOBOD

    Galamsey will cost Ghana its premium position in international cocoa market – COCOBOD

    The Ghana Cocoa Board (COCOBOD) has raised concerns about the potential loss of Ghana’s premium position in the international cocoa market due to illegal mining activities.

    In an interview on The Point of View with Bernard Avle, Prof. Michael Kwarteng, Director of the Anti-Corruption Galamsey Unit of COCOBOD, highlighted the detrimental impact of illegal mining, or “galamsey,” on cocoa production.

    These remarks follow a warning by the former Chief Executive Officer of the Environmental Protection Agency (EPA), Henry Kokofu, regarding a potential embargo on Ghana’s cocoa bean exports due to the escalating activities of illegal miners.

    “Per what we’re seeing, if nothing is done to stop this act [illegal mining], we may lose even our position as the number one premium cocoa. In terms of quality, we all know that, in the whole world, Ghana’s cocoa is the best. If we continue to this, then we’re going to lose that, the quality of our cocoa beans is going to be affected seriously.”

    “I know our Cocoa Research Institute is researching that, and I’m sure they will come out with their findings. But per what we’re all seeing, we stand the risk of losing, so he’s right.”

    In response to the EU’s report suggesting a potential ban on Ghana over cocoa cultivated on deforested land, he advocated for an evaluation of cocoa’s benefits to the citizens of Ghana.

    “I think we have not realized the benefits we’re getting from cocoa production as a nation. COCOBOD is doing so much, cocoa production is offering us employment, even road construction. Our cocoa farmers rely on cocoa for their livelihoods. I think that as a nation, we should begin to assess the importance of cocoa production,” he opined.

    Prof. Kwarteng expressed concern about the challenges cocoa farmers face in accessing water for irrigation on their farms due to pollution of most water bodies.

    “There’s no way we can put cocoa aside and concentrate on the minerals. All our water bodies are going, now for farmers to get water to nurse their crops is even difficult, some buy sachet water and take it to the farms.”

    Ghana has experienced the lowest cocoa production in the past 10 years.

  • 58% increase in cocoa farmgate price falls below expectations – Concerned Farmers Association

    58% increase in cocoa farmgate price falls below expectations – Concerned Farmers Association

    President of the Concerned Farmers Association of Ghana, Nana Oboadie Boateng Bonsu, has voiced dissatisfaction with the government’s recent adjustment of cocoa farmgate prices for the 2023/24 season.

    He deems the increase as significantly insufficient, given the strenuous efforts farmers invest in cultivating cocoa, Ghana’s primary foreign exchange earner.

    Despite the government’s announcement of a 58.26% increment in cocoa producer prices, which has elicited jubilation among farmers, Nana Oboadie Boateng Bonsu contended that the raise, from GH¢ 20,928 to GH¢ 33,120.00 per metric tonne, falls short of adequately compensating farmers.

    The adjustment, effective April 5, 2024, also includes an elevation of the buyers’ margin to GH¢ 2,980.00 per tonne for the same cocoa season.

    In a statement issued by the Cocoa Board (COCOBOD), the price adjustment is justified as a means to enhance cocoa farmers’ income, aligning with the NPP government’s vision and addressing the escalating cocoa prices in the international market.

    However, in an interview with Daakyehene Ofosu Agyemang on New York-based Adinkra Radio, Nana Oboadie Boateng Bonsu criticized the increment, urging the government to truly reward cocoa farmers with a more substantial increase in the producer price.

    He disparaged some farmers who lauded the government for the adjustment, labeling them as politically motivated individuals who lack firsthand experience of farming realities.

    Moreover, Nana Oboadie Boateng Bonsu highlighted the threat of cocoa smuggling to neighboring countries due to the persistently low pricing of cocoa.

    “Some farmers say they have accepted the price because you will get some political farmers like the award winners who are political because they themselves don’t till the land to now how it feels, they have hired people to work for them and so as soon as there is price increase, they put on their cloth and go to the Presidency and thank the President for the increment. But those who are on the field who actually work are not happy with the increment. it is painful, but because we are in an election year, even if you say the truth others will think you are doing politics.

    “When cocoa farms were being cut down for illegal mining activities in towns at Atiwa West, what did the COCOBOD do to stop the development. it is we the Concerned Farmers Association that stood up and fought the destruction of cocoa farms. The Dunkwa Chief bears us witness that we met the youth and advised the to go into farming which they did instead of going into galamsey.”

    He emphasized the importance of addressing this issue to prevent further economic losses and safeguard the interests of Ghanaian cocoa farmers.

  • COCOBOD slams Minerals Commission over MIGOP Mining Limited’s presence on cocoa farms

    COCOBOD slams Minerals Commission over MIGOP Mining Limited’s presence on cocoa farms

    Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo, has chastised the Minerals Commission over the lack of due diligence after issuing an exploration licence to MIGOP Mining Limited, a foreign-owned gold mining firm.

    The company is accused of endangering the livelihoods of cocoa farmers in the Atwima Nwabiagya South Municipality, Ashanti Region.

    It has been revealed that approximately 400 acres of cocoa farms are under threat due to the exploration activities conducted by MIGOP Mining Limited.

    Mr. Aidoo noted that although the Commission had granted an exploration license to the mining company, it failed to follow up to ensure that no mining took place.

    “The Minerals Commission is also complicit in whatever that is going on. In this instance that we are discussing, they were issued with an exploration license and not a mining lease. It is only when you’ve gone through all the necessary processes and procedures, then you need the final stage to establish that you have a commercial precious mineral there that is only when you will be issued with a mining lease but in this instance, they only have exploration license from the minerals commission,” he stated.

    “The minerals commission has not followed up to see whether they are doing exploration or mining and by law, they are not supposed to use heavy machinery through any cocoa farm. So, whatever is going on there is unlawful and COCOBOD is going to assist the farmers to have the get compensation for whatever disruption might have occurred to their farms,” he added.

    Mr Aidoo asserts that the attempts by the mining company to explore and mine in the affected communities, resulting in the destruction of several cocoa farms, are unlawful and unacceptable.

    “It is unlawful to destroy any cocoa tree or even to remove any tree on the cocoa farm. Which means that you can’t even go there and mine. Even if loggers cannot go and take timber trees, then it means that as for mining, it cannot come to any cocoa farm at all.

    The potential commencement of full-scale operations by the firm could have detrimental effects on five cocoa-growing communities in the area.

    The CEO assured that COCOBOD is dedicated to supporting the affected farmers and will help secure fair compensation for any disruptions caused to their farms.

  • You can’t mine on a cocoa farm, it is illegal – COCOBOD to MIGOP Mining Limited

    You can’t mine on a cocoa farm, it is illegal – COCOBOD to MIGOP Mining Limited

    Chief Executive Officer of COCOBOD, Joseph Boahen Aidoo, has strongly condemned the actions of MIGOP Mining Limited, a foreign-owned gold mining firm accused of endangering the livelihoods of cocoa farmers in the Atwima Nwabiagya South Municipality, Ashanti Region.

    Mr Aidoo asserts that the attempts by the mining company to explore and mine in the affected communities, resulting in the destruction of several cocoa farms, are unlawful and unacceptable.

    It has been revealed that approximately 400 acres of cocoa farms are under threat due to the exploration activities conducted by MIGOP Mining Limited. The potential commencement of full-scale operations by the firm could have detrimental effects on five cocoa-growing communities in the area.

    In a firm stance, the CEO of COCOBOD declared the company’s actions as illegal, emphasizing the protection afforded to cocoa trees under the law.

    “It is unlawful to destroy any cocoa tree or even to remove any tree on the cocoa farm. Which means that you can’t even go there and mine. Even if loggers cannot go and take timber trees, then it means that as for mining, it cannot come to any cocoa farm at all.

    “The Minerals Commission is also complicit in whatever that is going on. In this instance that we are discussing, they were issued with an exploration license and not a mining lease. It is only when you’ve gone through all the necessary processes and procedures, then you need the final stage to establish that you have a commercial precious mineral there that is only when you will be issued with a mining lease but in this instance, they only have exploration license from the minerals commission,” he stated.

    Mr. Aidoo also criticized the Minerals Commission for its lack of oversight, pointing out that although the commission had granted an exploration license to the mining company, it failed to follow up to ensure that no mining took place.

    The CEO assured that COCOBOD is dedicated to supporting the affected farmers and will help secure fair compensation for any disruptions caused to their farms.

    “The minerals commission has not followed up to see whether they are doing exploration or mining and by law, they are not supposed to use heavy machinery through any cocoa farm. So, whatever is going on there is unlawful and COCOBOD is going to assist the farmers to have the get compensation for whatever disruption might have occurred to their farms,” he added.

  • Mining exploration in Atwima Nwabiagya threatens safety of 400 acres of cocoa farms

    Mining exploration in Atwima Nwabiagya threatens safety of 400 acres of cocoa farms


    In the Atwima Nwabiagya South Municipality of the Ashanti Region, the livelihoods of cocoa farmers are under imminent threat as a foreign-owned gold mining firm, MIGOP Mining Limited, conducts exploration activities.

    This poses a significant risk to over 400 acres of cocoa farms, spanning five cocoa-growing communities in the area.

    These farms, which have recently undergone rehabilitation by the Ghana Cocoa Board to combat the Cocoa Swollen Shot Virus Disease outbreak, are now facing destruction due to the encroachment of the mining firm.

    The affected communities, including Apuoyem, Brahebebome, Brosanko, Ouagadougou, and Nkotonmire, stand to suffer considerable economic losses.

    According to Ghana COCOBOD, the monetary value of cocoa produced by these communities exceeds GH¢316,000, highlighting the significant impact of the mining activities on the local economy.

    Expressing concern over the situation, Head of the anti-illegal mining Units at COCOBOD, Professor Michael Kwarteng, condemned the actions of MIGOP Mining Limited.

    “Yesterday I received a call from the executive director of the cocoa health and extension division that there is this mining company, MIGOP Mining Limited. They’ve come to this our cocoa district. To them, they’ve been given license to do prospecting and they’ve destroyed a lot of our cocoa farms. Farmers have been preventing them but they are using security personnel to intimidate them and then going ahead with their activities. So when I received this I said no, I can’t sit down for even a day.

    “Looking at what is happening, the evidence is there. They’ve destroyed some of the cocoa farms. COCOBOD we are not aware of what is going on. I always say whenever you are securing any concession, you have to contact the regulator of that production, being cocoa, or whatever.

    “Meanwhile when you go to the minerals commission, the Mining Acts 703 sections 18(1)(2), it tells you that mining companies are supposed to contact bodies that regulate that farm. So they are violating that aspect of their own law. So, mining companies are taking advantage of this and are destroying our farms everywhere,” he stated.

    He pointed out instances of cocoa farm destruction and intimidation of farmers by security personnel deployed by the mining company.

    In response, MIGOP Mining Limited claims to have obtained permits from the Minerals Commission to conduct exploration in the area.

    However, they acknowledge the inadvertent destruction of some cocoa farms during the exploration process.

    The Community Relations Officer for MIGOP Mining Limited, Richard Gyasi, assured that affected farmers are being compensated for their losses. He emphasizes that the company is currently in the exploration phase and refutes claims of widespread crop destruction.

    Despite these assurances, concerns persist regarding the long-term implications of mining activities on cocoa production and the livelihoods of affected communities.

    The clash between mining interests and agricultural sustainability underscores the delicate balance between economic development and environmental conservation.

    “We are only doing exploration so we are not destroying any crop. Even though at least one or two crops have been affected we are using the government rate to pay them. For now, we are in the exploration stage, we will now move to the development stage before we start the mining. So, we are not destroying crops as it has been portrayed,” he stated.

  • Ghanaian cocoa farmers earn $47 more per tonne than Ivorian counterparts – COCOBOD

    Ghanaian cocoa farmers earn $47 more per tonne than Ivorian counterparts – COCOBOD

    Amid public criticism accusing the government, via the Ghana Cocoa Board, of undercutting cocoa farmers in cocoa bean pricing, COCOBOD’s Public Relations Officer, Fiifi Boafo, has refuted these allegations.

    Boafo stated that Ghanaian cocoa farmers receive $47 more per tonne compared to their Ivorian counterparts.

    Speaking on Citi TV’s Point of View program, Boafo emphasized that the government did not exploit cocoa farmers when it announced an increase in farmgate prices for cocoa beans.

    “The difference between how much Ghana is paying cocoa farmers, and the Ivorians are paying cocoa farmers, we’re paying $47 more to our Ghanaian farmers compared to Ivorian farmers,” he said.

    He added that, “the people who told us to replicate what the Ivorians have done now say that what we have done is wrong and we are cheating the cocoa farmers. If I’m asked to do something someone is doing and I do the same, do you accuse me of doing the wrong thing, no.”

    The Public Relations Officer of COCOBOD also highlighted that the government has consistently provided cocoa farmers with an improved producer price over the years.

    He referenced benefits such as fertilizer subsidies that Ghanaian cocoa farmers receive during the crop season.

    “Last year [2023] due to the exchange rate, the Ivorians’ price got better than Ghana’s. But the government in the last 7 years, with the exception of last year [2023] has paid better price to cocoa farmers as compared to the Ivorian counterparts,” Mr Boafo stated.

    “In Cote D’Ivoire, there’s nothing like cooling down periods for cocoa farmers. There’s nothing like a subsidized fertilizer given to cocoa farmers. All interventions COCOBOD is giving to farmers in Ghana, the Ivorian counterparts are not enjoying same,” he added.


    The price of cocoa beans has been increased from GH¢20,928 per tonne to GH¢33,120.00 for the remainder of the 2023/2024 cocoa season.

    COCOBOD has stated that the raise aims to improve the income of cocoa farmers and deter the smuggling of cocoa beans to neighboring countries.

    However, some Ghanaians, including cocoa farmers, have expressed dissatisfaction, arguing that the 58 percent increment is insufficient.

  • Gov’t pays Ghanaian cocoa farmers $47 more than Ivory Coast farmers – COCOBOD

    Gov’t pays Ghanaian cocoa farmers $47 more than Ivory Coast farmers – COCOBOD

    Public Relations Officer of the Ghana Cocoa Board (COCOBOD), Fiifi Boafo has praised the achievements of the Akufo-Addo government in the cocoa sector despite facing criticism from the minority in Parliament.

    Speaking on The Point of View on Citi TV, Boafo defended the government against accusations of shortchanging cocoa farmers, highlighting a 58% increase in the producer price for cocoa.

    He pointed out that Ghanaian cocoa farmers have consistently received higher payments than their Ivorian counterparts over the past seven years, except for 2023.

    “The difference between how much Ghana is paying cocoa farmers, and the Ivorians are paying cocoa farmers, we’re paying $47 more to our Ghanaian farmers compared to Ivorian farmers. And the people who told us to replicate what the Ivorians have done, now say that what we have done is wrong and we are cheating the cocoa farmers. If I’m asked to do something someone is doing and I do the same, do you accuse me of doing the wrong thing, no.

    “Last year [2023] due to the exchange rate, the Ivorians’ price got better than Ghana’s. But the government in the last 7 years, with the exception of last year [2023] has paid better price to cocoa farmers as compared to the Ivorian counterparts, “  Fiifi Boafo stated.

    Boafo refuted claims of exploitation, stating that Ghanaian cocoa farmers receive $47 more than those in Cote d’Ivoire, challenging accusations of cheating farmers.

    “The premium levels are different I admit, but in Côte D’Ivoire, there’s nothing like cooling down periods for cocoa farmers. There’s nothing like a subsidised fertiliser given to cocoa farmers. All interventions COCOBOD is giving to farmers in Ghana, the Ivorian counterparts are not enjoying same.”

    “We’re treating more of our farms affected, you can say today that the numbers are not looking good, but it’s as a result of an action taken to ensure going into the future, we are in a better position to produce cocoa,” he said.

    Regarding lower production levels in Ghana compared to Cote d’Ivoire, Boafo attributed this to factors like infested farms, swollen shoot disease, and adverse weather conditions.

    He emphasised the government’s actions for long-term sustainability in cocoa production.

    Boafo also addressed allegations of cocoa smuggling, clarifying that the major smuggling point is at the Togo border, not the Ivory Coast.

  • New farmgate prices an insult – Cocoa farmers to COCOBOD

    New farmgate prices an insult – Cocoa farmers to COCOBOD


    The recent rise in cocoa farmgate price by the government has drawn criticism from the Ghana National Cocoa Farmers Association, who deem it insufficient.

    On April 5, 2024, the Ghana Cocoa Board (COCOBOD) declared a 58.26 percent increase, establishing the price at GH¢33,120 cedis per ton for the 2023/2024 crop season. This adjustment aims to equitably allocate the benefits of the escalating global cocoa prices and discourage cocoa bean smuggling.

    However, Stephenson Anane Boateng, President of the Ghana National Cocoa Farmers Association, argues that cocoa farmers are being treated unjustly.

    In response to COCOBOD’s decision, Anane Boateng stated, “Cocoa has been raised globally to $10,000 per metric ton. So if you compare, and you convert to our currency, it is running into over GH¢9,000. We totally disagree with them. We pay our labour, we buy inputs for the farm, and then we also pay ourselves.”

    “So in a nutshell, we get only GH¢600 for that while COCOBOD also gets GH¢7,000. So what work did COCOBOD do and give us that money? It’s an insult!” he asserted.

  • Cocoa farmers reject COCOBOD’s 58% increase in cocoa farmgate price

    Cocoa farmers reject COCOBOD’s 58% increase in cocoa farmgate price

    Some cocoa farmers in Ghana are disappointed with the government over the recent increase in the cocoa farmgate or producer price for the 2023/24 season.

    The announcement of a 58.26% increase from GH¢20,928 per tonne to GH¢33,120.00 per tonne for the remainder of the season has left some farmers feeling shortchanged.

    According to members of the Ghana National Cocoa Farmers Association, they deserve more, especially considering the current global surge in cocoa prices.

    The association’s President, Stephenson Anane Boateng, expressed this sentiment in a media interview, describing the increment as inadequate and an insult to the hard work of cocoa farmers.

    Boateng urged the government to reconsider and provide a more equitable price for cocoa farmers. He also criticized COCOBOD, accusing them of withholding farmers’ money without valid reasons.

    “Cocoa has been raised globally to $10,000 per metric ton. So if you compare and you convert to our currency, it is running over GH¢9,000. We totally disagree with them. We pay our labor, we buy inputs for the farm, and then we also pay ourselves.

    “So in a nutshell, we get only GH¢600 for that while COCOBOD also gets GH¢7,000. So what work did COCOBOD do that they give us that money. It’s an insult!”

    The Ghana Cocoa Board (COCOBOD) recently announced a substantial 58.26 percent increase in cocoa prices, setting the rate at GH¢33,120 cedis per ton for the 2023/2024 crop season. This adjustment took effect on April 5, 2024.

    COCOBOD explained that the decision was made to ensure that cocoa farmers benefit from the high global cocoa prices and to discourage the smuggling of cocoa beans.

    Despite COCOBOD’s rationale, the Minority in Parliament has criticized the new price, arguing that it is insufficient and fails to adequately compensate cocoa farmers.

  • Opuni-Agongo Trial: COCOBOD Director ‘face off’ with Prosecution over cocoa yield dynamics

    Opuni-Agongo Trial: COCOBOD Director ‘face off’ with Prosecution over cocoa yield dynamics

    The Director of Research, Monitoring and Evaluation at COCOBOD has countered the prosecution’s attempt to attribute fluctuations in cocoa yields solely to the use of specific fertilisers, citing various factors influencing cocoa production.

    A former Executive Director of the Cocoa Health and Extension Division (CHED) of COCOBOD, Dr Francis Baah, testifying in the trial of former COCOBOD Chief Executive Dr Stephen Opuni and businessman Seidu Agongo, emphasized that cocoa yields can vary due to multiple factors, including weather conditions, farming practices, and fertiliser usage.

    During the trial, Dr Baah dismissed the notion of any single fertiliser being solely responsible for changes in cocoa production, clarifying that COCOBOD procures and utilises multiple fertilisers each season.

    In response to questions from counsel for Seidu Agongo, Dr Baah stressed the need for comprehensive studies before attributing cocoa yield changes to specific fertilisers.

    “Would your Monitoring & Evaluation Department blame any particular fertiliser for the rise, fall and or stagnation of cocoa production in any particular production year from 2013/14 till date?” he was asked.

    His response: “No! Unless there is a study or report to identify the culprit.”

    He also highlighted the complex nature of cocoa production, emphasizing the role of various environmental and management factors.

    Regarding the fluctuation in cocoa yields over recent years, Dr Baah reiterated that blaming any individual or fertiliser for these changes would be oversimplifying a complex situation.

    Dr Baah’s testimony sheds light on the intricate dynamics of cocoa production, challenging the prosecution’s singular focus on fertiliser usage.

    The trial proceedings will resume at the Accra High Court on April 8, 2024.

    Below is a transcript of an except of the cross according to theheraldghana.com

    Q. In 2021, the yield jumped to 1,047,384.94; that is correct?

    A. That is correct

    Q. The following year, 20211/2022, it fell by almost 40% to 683,268.94; that is correct?

    A. That is correct

    Q. Would it be right for anybody sitting anywhere to say that it was as a result of fertilisers that were bought by your chief executive in 2021/2022?

    A. That would not be the case; it is a combination of [a] myriad of factors.

    Q. Please explain to this honourable court why your chief executive for that year should not be blamed for the fall from 1,047,384.94 to 683,268.94.

    A. I would not blame my chief executive because he does not have any control over the elements and factors that determine production, including the world market price.

    Q. Will you attribute the fall in production from the 2020–2021 cocoa season to the 2021–2022 cocoa season to any fertiliser procured under the supervision of your Chief Executive at the time?

    A. I will not. The changes or the vagaries in production figures is impinged on, as I have explained before, by a basket of factors.

    Q. 2022/2023, it fell further to 656,139.87; that is true?

    A. That is true

    Q. Who do you blame for that?

    A. I am not in the position to blame anybody

    Q. Which fertiliser do you blame for that?

    A. I blame no input.

    Q. When you take out the production of 2022/2023, which is 656,139.87, from the production of 2016/2017, which is 969,510.69, you will get 313,370.82 metric tonnes; that is correct?

    A. That is correct.

    Q. Tell this honourable court, as far as you are aware, has anybody been held responsible for the two years of 2021/2022 and 2022/2023 for the production of cocoa?

    A. I don’t know of anybody being held responsible.

    Q. Would it be appropriate for the managers of COCOBOD for 2021/2022 and 2022/2023 to be held responsible for [the] fall in production when you yourself have said that production is a result of a basket of issues and that no agronomy practice, husbandry, or management can determine the production?

    A. I do not think it would be appropriate unless there is clear evidence of dereliction of duties on the part of any staff.

    Q. Can any particular fertiliser or chemical be held responsible for the fall that we have seen in 2021/2022 and 2022/2023?

    A. I do not think so.

  • COCOBOD hasn’t approved procurement of GHC4.5k iPad keyboards – Management

    COCOBOD hasn’t approved procurement of GHC4.5k iPad keyboards – Management

    Ghana Cocoa Board (COCOBOD) has responded to widespread concerns regarding a circulated memo proposing the procurement of iPad keyboards for its Board of Directors.

    The memo, originating from the Information Systems Department, sought approval for the purchase of iPad keyboards priced at Four Thousand Five Hundred Cedis (GH¢4,500.00) each for the board.

    This led to significant criticism both online and offline.

    However, in a statement released on April 1, 2024, COCOBOD management clarified that the memo was merely a proposal request and had not been authorized for procurement.

    It clarified that the request was made in light of adopting the “CONVENE” app to enhance productivity and reduce paper usage during board meetings.

    The statement emphasized that the request is still pending approval, and that no transactions have taken place.

    PRESS-RELEASE-IPAD-4Download
  • Poor weather conditions adversely impacting cocoa production – COCOBOD

    Poor weather conditions adversely impacting cocoa production – COCOBOD

    The Public Affairs Manager of the Ghana Cocoa Board (COCOBOD), Fiifi Boafo, has attributed the decrease in cocoa production to adverse weather conditions.

    Boafo highlights the substantial impact of weather patterns on cocoa cultivation, particularly emphasizing heavy rainfall at the commencement of the cocoa season as a significant concern.

    While recognizing the necessity of rainfall for cocoa production, he underscores that excessive precipitation this season impeded the fruiting process, leading to a diminished harvest.

    Additionally, Mr Boafo points out the adverse effects of severe harmattan conditions on cocoa pods, exacerbating the situation further.

    Mr Boafo made these observations during a discussion on Ghana’s struggling cocoa industry on JoyNews’ PM Express on Wednesday, March 27.

    He indicated, “The major contributory factor for low cocoa production is the weather situation we’ve experienced this cocoa season. It started with a heavy rainfall. Then it got to a time where you expected the pods you had to develop for you to harvest then we experienced severe harmattan.

    “So this El Niño challenge is largely a contributory factor to the low production we experienced this year,” he told host Evans Mensah.

    Furthermore, Boafo draws attention to the prevalence of swollen shoot disease, which has affected approximately 590,000 hectares of cocoa farms in Ghana.

    He explains that these affected farms are currently under rehabilitation and not yielding cocoa beans.

    He noted, “At the moment, about 590,000 hectares of cocoa farms in Ghana have been affected by swollen shoot and so it is affecting production. Indeed, we are rehabilitating some of these affected farms. And since the only known solution is cutting the affected trees, all the affected farms are not fruiting at the moment“.

    Ghana, renowned as one of the world’s leading cocoa producers, has been contending with dwindling cocoa production in recent years.

    Challenges stemming from unpredictable weather patterns, illegal mining, and smuggling, among other factors, exacerbate the existing pressures on the industry, impacting both local and global markets.

    Currently, there is a global shortage of cocoa beans, leading to a significant surge in cocoa prices, with one tonne fetching an unprecedented $10,000.

    However, despite the price hike, Ghana may not reap substantial benefits due to the notable decline in cocoa production this year, as indicated by research.

  • Shrewd COCOBOD operators backing out of forward deals to leverage hike in cocoa prices – Bright Simons

    Shrewd COCOBOD operators backing out of forward deals to leverage hike in cocoa prices – Bright Simons

    Vice President of IMANI Africa, Bright Simons, has alleged that Ghana to sell a portion of its future cocoa production in exchange for securing loans.

    Taking to the X platform, he highlighted that the surge in cocoa prices, rising fourfold, has prompted some individuals within Ghana’s cocoa regulator, COCOBOD, to either cancel or renegotiate the existing forward contracts.

    According to Mr. Simons, these individuals seek to exploit the lucrative spot market prices, where cocoa can be sold immediately.

     He expressed concerns about the potential repercussions of such actions on Ghana’s future relationships with banks.

    Renegotiating contracts, he warned, could undermine trust and credibility with financial institutions, potentially affecting Ghana’s ability to obtain favorable loan terms in the future.

    “Ghana sells fwd some of its cocoa to collateralise loans. The price of cocoa has quadrupled, so some shrewd operators at Cocobod are looking to back out of various forward deals & squeeze the most out of the spot market. Shrewd, but what about future relationships with the banks?,” he added.

    Ghana, the world’s second-largest cocoa producer, sealed an $800 million loan deal towards the end of last year with a consortium of eight banks, led by Cooperatieve Rabobank UA.

    According to Bloomberg, sources familiar with the matter, who requested anonymity due to the sensitive nature of the issue, revealed that Cocobod lacks sufficient cocoa beans to support the final $200 million drawdown from the commodity-backed facility.

    A spokesperson for Cocobod, Fiifi Boafo, stated that it would not be “prudent” to pursue the additional drawdown. “Management has decided to avoid an overstretch in the repayment,” he added.

    Ghana’s funding woes coincide with an anticipated shortfall in the cocoa harvest for the 2023/24 season, projected to reach only about 422,500 to 425,000 tons—half of the initial forecast.

    Without timely payments from Cocobod, farmers risk being unable to afford essential resources like seedlings, chemicals, and fertilizers necessary for cultivating healthy crops.

    Traditionally, Cocobod conducts an investor roadshow between June and July each year, culminating in the signing of a syndicated facility agreement in September, just before the commencement of the new harvest season in October.

    However, complications arose last year due to Ghana’s debt restructuring, delaying negotiations until December.

    Consequently, Cocobod secured the loan at an unprecedented interest rate of 8%, much higher than previous rates. Originally slated for disbursement in January, the final tranche remains inaccessible.

    Among the participating banks in the syndicated loan were Standard Chartered Plc and Societe Generale SA, further complicating Cocobod’s financial predicament.

  • COCOBOD initiates transfer of 44,769 farms to beneficiary farmers in Cocoa sector

    COCOBOD initiates transfer of 44,769 farms to beneficiary farmers in Cocoa sector

    The Ghana Cocoa Board (COCOBOD) is preparing to transfer approximately 44,769 farms to more than 29,441 beneficiary farmers across the nation.

    This initiative, announced by COCOBOD’s Chief Executive, Joseph Boahen Aidoo, is designed to provide support to farmers within 51 cocoa districts.

    According to reports from the Daily Guide network, these farmers will receive assistance from students at the Bunso Cocoa College to establish their farms using products and knowledge gained from the college.

    Previously focused on training COCOBOD staff, particularly in extension and technical services, the Bunso Cocoa College has been revamped into a diploma-granting institution.

    This transformation aims to bolster the sustainability of the cocoa sector by equipping graduates with expertise in cocoa agronomy, traceability, sustainability, and other pertinent areas.

    A significant aspect of this overhaul is the establishment of the governing council of the Bunso Cocoa College. Comprising 10 members, including Chairman Dr. Ebenezer Owusu and Deputy Chief Executive Dr. Mercy Asamoah, this council seeks to enhance the institute’s governance framework.

    Additionally, it will supervise the creation of specialized training programs to furnish students with contemporary skills, benefiting both the learners and society as a whole.

  • Parliament raises concerns about COCOBOD’s projected loss of GHS2.6b

    Parliament raises concerns about COCOBOD’s projected loss of GHS2.6b

    Parliament has revealed that the Ghana Cocoa Board (COCOBOD) is projected to report a loss of GHS2.6 billion.

    This raises concerns because such a significant loss could make it challenging for COCOBOD to meet its loan payments on time.

    In a post shared by @StatsGH on X, “COCOBOD is expected to declare a loss of GHS2.6 billion. This raises concerns about possible challenges in meeting loan payments.”

    In the aftermath of President Nana Akufo-Addo’s State of the Nation Address earlier this week, Eric Opoku, the Minority Spokesperson on the Food, Agriculture, and Cocoa Affairs Committee of Parliament, voiced his apprehensions about the deteriorating state of COCOBOD during an engagement with the media

    Opoku expressed concern about COCOBOD’s financial distress, stating, “Do you know in this country where COCOBOD is in distress? Is choked by debts? COCOBOD has been taking loans from the banks and they are unable to pay?”

    Contrary to President Akufo-Addo’s assertion in his State of the Nation Address that rice importation into Ghana decreased between 2021 and 2023, Eric Opoku contested this claim, stating, “The President created an erroneous impression that importation of rice in Ghana has been on the decline. That is not true.”

  • Vote NPP out of office for collapsing cocoa sector – Economist to farmers

    Vote NPP out of office for collapsing cocoa sector – Economist to farmers

    A Chartered Economist and member of the National Democratic Congress (NDC), Bernard Oduro Takyi (BOT), has urged farmers to oppose the New Patriotic Party (NPP) government in the upcoming 2024 elections, attributing the decline of the agriculture sector to their policies.

    BOT highlighted that government budget statements and data from the Ghana Statistical Service indicate a contraction in the agricultural sector since President Akufo-Addo assumed power.

    According to him, figures from the budget reveal that the agricultural sector experienced growth during the Mahama era but started to decline under Akufo-Addo‘s administration.

    Specifically pointing to the cocoa sector, BOT noted a significant downturn under Akufo-Addo, attributing it to the discontinuation of free fertilizers for cocoa farmers by the current government, emphasizing the negative impact on the sector.

    BOT also criticized the suspension of the Cocoa road projects initiated by the Mahama administration to rehabilitate feeder roads in Cocoa-growing areas, claiming that Akufo-Addo halted these projects to tarnish the image of the former COCOBOD boss, Dr. Opuni.

    He alleged that the government spent substantial amounts on an audit by Kroll and Associates yet failed to publish the report confirming the project as a clean contract.

    Encouraging cocoa farmers affected by the Akufo-Addo government’s policies to protest, BOT declared, “The cocoa sector has collapsed under President Akufo-Addo. Farmers should vote the NPP government out on December 7 as their way of expressing protest.”

    Additionally, BOT assured farmers that the cocoa road projects would resume under the next NDC/John Mahama government.

    The Chartered Economist made these remarks during an interview on Accra-based Power FM.

  • COCOBOD’s indebtedness will lead to its collapse – Minority warns

    COCOBOD’s indebtedness will lead to its collapse – Minority warns

    The Minority in Parliament has raised serious concerns about the potential collapse of the Ghana Cocoa Board (COCOBOD) due to its considerable indebtedness to banks.

    According to the Minority, COCOBOD’s 2024 budget anticipates a substantial loss of 2.6 billion Ghana Cedis, heightening fears of potential defaults on loan payments.

    Following President Nana Akufo-Addo’s State of the Nation Address earlier this week, Eric Opoku, the Minority Spokesperson on the Food, Agriculture, and Cocoa Affairs Committee of Parliament, voiced his apprehensions about the deteriorating state of COCOBOD in an interview with Citi News.

    Mr Opoku expressed concern about COCOBOD’s financial distress, stating, “Do you know in this country where COCOBOD is in distress? Is choked by debts? COCOBOD has been taking loans from the banks and they are unable to pay?”

    Furthermore, Opoku highlighted the challenges faced by workers, revealing that approximately 35,000 employees of the Produce Buying Company (PBC) are now unemployed due to the collapse of the firm.

  • Swift action needed to avert collapse of COCOBOD – Minority to govt

    Swift action needed to avert collapse of COCOBOD – Minority to govt

    The Minority in Parliament is expressing serious concerns about the potential collapse of the Ghana Cocoa Board (COCOBOD) as a result of its substantial indebtedness to banks.

    As indicated by the Minority, COCOBOD’s 2024 budget foresees a significant loss of 2.6 billion Ghana Cedis, raising worries about possible defaults on loan payments.

    In the aftermath of President Nana Akufo-Addo’s recent State of the Nation Address, Eric Opoku, the Minority Spokesperson on the Food, Agriculture, and Cocoa Affairs Committee of Parliament, conveyed his concerns about COCOBOD’s precarious financial situation in an interview with Citi News.

    Opoku expressed apprehension about COCOBOD’s financial distress, stating, “The President created an erroneous impression that importation of rice in Ghana has been on the decline. That is not true.”

    Contrary to President Akufo-Addo’s claim in his State of the Nation Address that rice importation into Ghana decreased between 2021 and 2023, Eric Opoku disputed this assertion, saying, “The President created an erroneous impression that importation of rice in Ghana has been on the decline. That is not true.”

    Additionally, Opoku highlighted the challenges faced by workers, revealing that approximately 35,000 employees of the Produce Buying Company (PBC) are now unemployed due to the collapse of the firm.

  • Cocoa output plummets 40%, fueling record-high prices in 2023/24

    Cocoa output plummets 40%, fueling record-high prices in 2023/24

    Sources from Ghana’s cocoa sector regulator, COCOBOD, indicate that the anticipated cocoa output for the 2023/24 season is likely to significantly miss expectations, with an estimated 40 percent shortfall from the target of 820,000 metric tons.

    Contributing factors to this decline include adverse weather conditions, smuggling activities, illegal gold mining, and the prevalence of swollen shoot disease.

    Expressing concerns over the production shortfall, the first source informed Reuters that strong seasonal winds and insufficient rainfall have worsened the situation, with the current output forecasted to be around 500,000 tons for the season.

    Addressing the challenges, the source noted, ‘Unfortunately, the cause of the decline could not be remedied immediately through human intervention.’

    In the preceding 2022/23 season, COCOBOD reported a loss of approximately 150,000 tons of cocoa attributed to smuggling and illegal gold mining, locally referred to as galamsey. Additionally, the regulator revealed earlier this month that the cocoa swollen shoot virus had ravaged around 500,000 hectares of cocoa farmlands.

    Efforts to address these production challenges are underway, according to the first source, who cited ongoing farm rehabilitation projects, the commencement of the rainy season, and collaborative endeavors with security agencies to combat smuggling activities.

    Despite the current challenges, the second source maintains optimism regarding Ghana’s potential for production recovery. However, COCOBOD did not provide comment on the matter.

    The decrease in cocoa production from both Ghana and Cote d’Ivoire, alongside mounting deficits, has propelled global cocoa prices to unprecedented levels.

    Traders are grappling with heightened demand and pricing volatility, with London cocoa futures surpassing the psychological threshold of £5,000 and New York cocoa breaching the $6,000 mark.

    The surge in cocoa prices is starting to impact retail markets, with chocolate manufacturers like Hershey anticipating a slowdown in consumer demand due to rising costs.

    Samuel Adimado, president of Ghana’s cocoa buyers group, described the current production forecast as ‘devastating,’ noting that member firms are adjusting their operations to remain viable amid these challenges.

    Highlighting the alarming trend, the first source emphasized that escalating global cocoa prices have incentivized smuggling activities, potentially leading to even greater losses in the current season.

  • Opuni trial: Court finds out how Adu-Ampomah hid positive test result on lithovit

    Opuni trial: Court finds out how Adu-Ampomah hid positive test result on lithovit

    In court, it was revealed that the COCOBOD Committee, chaired by Dr. Yaw Adu-Ampomah, was formed after the Economic and Organised Crime Office (EOCO) informed him that a test by the Ghana Standards Authority (GSA) had confirmed lithovit as a fertilizer.

    This committee, which did not invite the accused, Dr. Stephen Opuni and Seidu Agongo, based its findings on disputed reports, excluding the positive GSA test result. The EOCO investigation, however, was ongoing during the committee’s work.

    The EOCO investigation, led by Mr. Paul Agyei Gyang, included a positive GSA test result, known to Dr. Adu-Ampomah, who was then the Deputy Chief Executive of COCOBOD. Despite this, the COCOBOD committee, formed in 2017, did not consider this information.

    Mr. Gyang confirmed that the first negative GSA test was done in an inappropriate department, leading to a second test in the correct department, which confirmed lithovit as a fertilizer. This discrepancy in test results was not addressed by the COCOBOD committee.

    Seidu Agongo rejected the first test result and requested a second test, which confirmed lithovit’s status as a fertilizer. This information was not shared with the COCOBOD committee, leading to questions about the committee’s findings and process.

    Overall, the revelations in court raise concerns about the handling of the lithovit case and the credibility of the COCOBOD committee’s report.

    The head of the Material Science Department of GSA, Mrs Baah Mantey, wrote in her statement to investigators that, from the second scientific report, “the results revealed that that sample contained some amounts of nitrogen, phosphorus and potassium, and so the sample was identified as fertilizer.”

    “Please tell the court if you know. Was the complainant informed about the result of the second test?” Benson Nutsukpui asked the EOCO investigator.

    “Yes, my Lord, as I told the court about the people, he himself was equally informed,” the witness replied.

    Read excerpts of the proceedings on February 21, 2024

    Q. Who was the complainant in the matter that was brought before EOCO?

    A. My Lord, if my memory serves me right, deputy chief executive in charge of agronomy and quality control. In the person of Dr. Adu Ampomah.

    Q. When you said that your executive director had discussions with the deputy chief executive- agronomy and quality control- on the second test, who was that person who was the deputy chief executive- agronomy and quality control- at COCOBOD then?

    A. My Lord, it is Dr Adu Ampomah

    Q. You also told this court that after you received the second report, the directorate brought the scientists together; that is correct?

    A. Yes, my Lord, that is correct.

    Q. Who else was in this discussion with the scientists?

    A. My Lord, the head of the chemistry department of the University of Ghana

    Q. And any other person?

    A. That is all I can remember for now.

    Q. Sir, did the directorate of EOCO have the occasion to communicate this second test to other interested parties?

    A. My Lord, if anything of that happened, it should be at the management level of which I may not be privy.

    Q. Please tell the court if you know. Was the complainant informed about the result of the second test?

    A. Yes, my Lord, as I told the court about the people, he himself was equally informed

    Q. Was he invited?

    A. Yes.

    Q. To where?

    A. To EOCO office.

    Q. What was he invited to the head office for?

    A. My Lord, as an interested party, it was only reasonable that management invited him to let him know what the results were

    Q. Sir, cast your mind back, this invitation to Dr. Adu Ampomah, was it on or before your meeting with the scientists?

    A. I think initially, the scientists were invited to explain the reason they had two different results. I think thereafter, some few days or so, he was also invited.

    Q. Can you recall around what date the scientists were invited?

    A. It’s unfortunate, my Lord, I can’t recall

    Q. Please look at exhibit H, page 3, just at the top, the first two lines, the executive summary; it says that a committee was constituted in October 2017; that is correct?

    A. Yes, my Lord.

    Q. Please what date was that committee constituted?

    A. From the report October 4, 2017.

    Q. As of October 4, 2017, this matter was under investigation by EOCO

    A. Yes, my Lord.

    Q. Tell this court on that date, October 4, 2017, did you receive the second report of the testing at EOCO?

    A. Yes, My Lord, the second report came in somewhere in June or July 2017

    Q. Sir, what is the date of that report exhibit 133?

    A. July 26, 2017.

    Q. So, as of October 4, 2017, EOCO has received this report?

    A. Yes, my Lord

    Q. And also discussed it with the scientists as of October 4, 2017

    A. Yes, my Lord

    Q. From the nature of the operations of EOCO how long after July 26, 2017, EOCO would have to inform the interested parties the results of the second test?

    A. By our operations, as soon as the report comes, parties have to be informed.

    Q. So tell this court by October 4, 2017, was Dr Adu Ampomah informed about the result of the second test?

    A. I believe so, my Lord.

    Q. You have exhibit H, look on the cover; it is dated November 7, 2017; that is correct?

    A. Yes, my Lord, that is correct.

    Q. Look at page 106 of Exhibit H. The two reports from the standards authority and the University of Ghana, which concluded that Lithovit they examined did not have the necessary ingredients are in that report, which is Exhibit H; that is true?

    A. Yes, my Lord, it is true

    Q. Take some few minutes and glance through and see if the report exhibit 133 A2/A3 (the second test result from Ghana Standards Authority) is in it or captured in exhibit H

    A. My Lord, after having a cursory look at the document, it is not there; I only found the first report from Ghana Standards Authority, which was forwarded to EOCO on June 5, 2017, and another cover letter from the University of Ghana Chemistry Department.

    Q. After your cursory look at exhibit H, you found that exhibit 133 is not in it; that is correct?

    A. Yes, my Lord, exactly so.

    Q. And look at page 3 of Exhibit H, and tell this honourable court who is the chairman of the committee that produced Exhibit H?

    A. My Lord, Dr Adu Ampomah, deputy chief executive- agronomy and quality control- was the chairman.

    Q. At all times that EOCO was doing [an] investigation into this matter, who was their contact point, or who were they reporting to at COCOBOD?

    A. Dr Adu Ampomah.

    Q. Tell this honourable court if, back in 2017, you personally or the investigative team knew about the existence of this committee.

    A. My Lord, I’m for the first time hearing of this committee. I can’t tell if management was informed.

    Q. EOCO handed over the docket to the police in June 2018. Is that the case?

    A. My Lord, the docket was handed to the police, but I can’t remember whether June or July.

    Q. But can you remember the year?

    A. Somewhere in 2018 or 17, there about,

    Q. Yesterday, we talked about the investigator’s statement you wrote. Was the handing over the docket earlier or after the investigator’s statement you wrote?

    A. My Lord, the statement was together with the docket.

    Q. If I told you that your statement was written on June 15 2018, when would you have handed over the docket?

    A. 2018, my Lord

    Q. By the time you were handing over the docket to the police, did EOCO receive that report, exhibit H on EOCO’s file?

    A. My Lord, the investigative team did not receive anything like that; I don’t know if management did.

    Q. By the mode of operations in EOCO, if management received a copy, would it be minuted down to the investigating team?

    A. Exactly so, my Lord.

    Q. What documents were handed over to the police from EOCO?

    A. My Lord, we had directive to hand over all dockets involving COCOBOD cases of which this docket was part, and in this docket, complainant, witnesses and suspects and all relevant documents which we have gathered, including test reports, i.e. the three test reports received from the scientists.

    Q. So, EOCO would consider exhibit 133 relevant on the docket?

    A. yes, my Lord, you are right.

    Q. On March 15, 2021, under cross-examination, Mr Thomas Prempeh Mercer told the court that the docket that the police received had only two test reports, the ones that had only negative results. Would that be correct?

    A. My Lord, I would be surprised.

    Q. I know you would be surprised, but I’m asking if EOCO did not give the police exhibit 133.

    A. My Lord, the report was inclusive

    Q. Mr Thomas Prempeh Mercer indeed admitted reading your investigator’s statement; tell this honourable court: did he or anybody on the police investigative team contact you to find out about exhibit 133, which you wrote about in your statement?

    A. No, my Lord, nobody contacted me.

    Q. From June 2018 till today, you have remained in the employment of EOCO that is correct?

    A. Yes, my Lord.

    Q. Has your office sent you any signal or notice to request an explanation as to why exhibit 133 not being on the police docket?

    A. My Lord, nobody has contacted me.

    Q. In the normal cause of investigation, an investigator’s statement, which you wrote, would be the beginning of the investigative work of the one taking over

    A. Yes, my Lord, you are right

    Q. And in normal investigative work, if you wrote about another test result and if it can’t be found, you would be contacted. That is also true?

    A. Ye, my Lord.

    Q. Can you explain how come you were never contacted in respect of investigations you did and exhibit 133?

    A. My Lord, it would be very difficult for me to explain

    Q. Tell this court what is your impression about this development in relation to exhibit 133 that I have taken you through this morning?

    A. My Lord, as I have told this court, I’m only surprised, but I can’t explain

    Q. Sir, EOCO took statements from a lot of people; that is correct?

    A. That is correct.

    Q. Sir, cast your mind back to [the] file you took statements from people?

    A. Yes, my Lord, a lot of people.

    Q. And it included farmers?

    A. Yes, my Lord.

    Q. Would the name Obeng Emmanuel or Emmanuel Obeng come to mind?

    A. The name I might have forgotten, but we had interactions with farmers

    Q. Do you remember the number of farmers you took statements from?

    A. The farmers we took statements from, we had them through Dr. Adu Ampomah

    Q. When you say you had them through Dr Adu Ampomah, what exactly do you mean?

    A. It means my Lord, he mentioned them as those people we could contact

    Q. Did the investigative team make any request to A2 and A3 to bring you farmers who used the product?

    A. My Lord, I don’t think we did

    Q. Apart from Dr. Adu Ampomah’s witnesses, did the investigative team find farmers on your own to question about the product?

    A. I think so

    Q. Can you remember how many you got?

    A. My Lord, two or three

    Q. Did you take statements from them?

    A. Some we contacted said they were scared to give statements, some did not give statements. We had statements from about two or three, if my memory serves me right

    Q. Can you remember whether two or three were the ones you got through Dr Adu Ampomah or not?

    A. My Lord, I can’t remember

    Q. As an investigative team, how often are your meetings with Dr Adu Ampomah?

    A. My Lord, as the deputy executive director in charge of agronomy and quality control, most of the time, he was dealing directly with the executive director of EOCO; we would only go there when there was the need and directives given to us

    Q. How many times did you have directives as an investigative team you went there as an investigative to meet Dr Adu Ampomah during the course of this investigation?

    A. My Lord, we were not dealing with this case; we were dealing with about 8 different dockets involving COCOBOD, so when there is a directive to meet him on any of those dockets, we did, not only on this docket.

    Q. On all these, how often would you say during the course of the investigation you were seeing Adu-Ampomah?

    A. My Lord, I can’t remember.

    Q. Of the 8 cases that you were investigating, how many are being prosecuted?

    A. I can’t be very sure about it.

    Q. But this is the only one you [know] at this time?

    A. For that matter, this is the only one I know.

    Q. Do you know whether DSO Akrasi gave a statement to the police?

    A. My Lord, he was invited to assist the new team which took over from us, so I won’t be surprised if he gave a statement.

    Q. If he did, in whose custody would it be?

    A. It would be in the custody of the police.

    Q. Would EOCO have a copy?

    A. I can’t tell my Lord.

    Q. Would Akrasi report to EOCO his involvement with the police team?

    A. Yes, my Lord, he has to report to EOCO

    Q. And would you, as the team leader, be briefed on it?

    A. My Lord through the briefing that is why I got to know that he was invited to assist the police

    Q. On February 8 2021, Chief Inspector Prempeh told the court that he had a petition to investigate this matter and that the petition was signed by the Senior Minister, Hon. Yaw Osofo Marfo. Did EOCO also receive a petition to deal with this matter

    A. No, my Lord.

    Q. After you gave your statement and handed over the docket, were you ever involved in the investigation on lithovit fertilizer?

    A. No, my Lord

    Q. Was EOCO, your institution, involved in any further investigation on this matter?

    A. No, my Lord, EOCO was not involved

    Q. Is there anything else you know about this investigation that I have not asked you about?

    A. No, my Lord

    Benson: My Lord, that would be all for the witness

  • Ghana’s cocoa production for 2023/24 season to fall by 40% – Report

    Ghana’s cocoa production for 2023/24 season to fall by 40% – Report

    Ghana’s cocoa sector is facing a significant setback in the 2023/24 season, with an expected 40% drop in cocoa output compared to the target of 820,000 metric tons.

    The decline is attributed to adverse weather conditions, smuggling, illegal gold mining, and the prevalence of the cocoa swollen shoot disease.

    A source from Ghana’s cocoa regulator, COCOBOD, according to JoyNews, informed Reuters that strong seasonal winds and inadequate rainfall have worsened the situation, with the projected output for the season now around 500,000 tons. The source expressed concern, stating that immediate human intervention cannot remedy the decline.

    In the previous season (2022/23), COCOBOD reported a loss of approximately 150,000 tons due to smuggling and illegal gold mining. The cocoa swollen shoot virus also devastated about 500,000 hectares of cocoa farmlands.

    Efforts are underway to address these challenges, including farm rehabilitation projects, the onset of the rainy season, and collaboration with security agencies to curb smuggling.

    Despite the current challenges, there is optimism about Ghana’s potential for production recovery. However, COCOBOD was not available for comment.

    The decline in cocoa production from both Ghana and Cote d’Ivoire has led to global cocoa prices reaching record highs. Traders are experiencing increased demand and pricing volatility, with London cocoa futures exceeding £5,000 and New York cocoa surpassing $6,000.

    The rise in cocoa prices is starting to impact retail markets, with chocolate manufacturers like Hershey expecting a slowdown in consumer demand due to higher costs.

    Samuel Adimado, president of Ghana’s cocoa buyers group, described the production forecast as ‘shattering,’ noting that member firms are adjusting their operations to cope with the challenges.

    Highlighting the alarming trend, the source emphasized that the higher global cocoa prices have incentivized smuggling, potentially leading to even greater losses in the current season.

  • COCOBOD CEO emphasizes competitive prices as key solution to cocoa smuggling

    COCOBOD CEO emphasizes competitive prices as key solution to cocoa smuggling


    Joseph Boahen Aidoo, the Chief Executive Officer (CEO) of the Ghana Cocoa Board (COCOBOD), emphasized the organization’s dedication to providing cocoa farmers with competitive prices as a means to combat cocoa smuggling.

    During his appearance before the Public Accounts Committee (PAC) of Parliament on Tuesday to address infractions highlighted in the Auditor-General’s Report for the year ending December 2022, Mr. Aidoo highlighted the effectiveness of COCOBOD’s collaboration with national security agencies in combating the issue. However, he stressed that offering favorable prices remains the most effective long-term solution.

    According to Aidoo, ensuring good cocoa prices would act as a deterrent for farmers involved in smuggling Ghana’s cocoa to neighboring countries.

    “We have made a lot of arrests. We have arrested people smuggling cocoa in jerrycans among others. But that will not solve the problem. The solution is bringing a new price,” he stressed. 

    In 2023, Ghana allegedly lost approximately 150,000 metric tonnes of cocoa beans, amounting to around $600 million in revenue during the last crop season, due to smuggling activities to neighboring Burkina Faso and Togo.

    In September of the same year, the government raised the purchase price of a bag of cocoa from GH¢800 per 64 kilograms (kg) to GH¢1,308.

    From GH¢12,800 per tonne to GH¢20,943 per tonne of raw cocoa beans, represents a 63.5% increase.

  • COCOBOD reports loss of 150,000 metric tonnes of Cocoa to smuggling in 2023

    COCOBOD reports loss of 150,000 metric tonnes of Cocoa to smuggling in 2023

    The Ghana Cocoa Board informed Parliament’s Public Accounts Committee that the company suffered a loss of over 150,000 metric tonnes of cocoa beans due to smuggling in 2023.

    Joseph Boahen Aidoo, the CEO of COCOBOD, disclosed this during his appearance before the committee on Tuesday morning.

    Aidoo further stated that cocoa production has declined as a result of illegal mining activities (galamsey) and disease outbreaks. To tackle these challenges, COCOBOD is working in collaboration with national security and other stakeholders, as well as implementing farm rehabilitation programs.

    However, minority members of the Public Accounts Committee are calling for the immediate resignation of Joseph Boahen Aidoo, citing his alleged inability to address the current challenges facing the institution.

    Ibrahim Murtala Muhammed, Member of Parliament for Tamale Central, questions why officials, including President Akufo-Addo and the CEO of COCOBOD, continue to hold their positions.

    “As the country that produced the highest quality of cocoa, even at a point in time we were producing more cocoa than the Ivory Coast. And it got to a stage that Ivory Coast overtook us, this is what happens, it’s always like a twin relationship, sometimes we overtake them, sometimes they overtake us. One thing that they have never overtaken us is the quality of the cocoa that we produce. Why is it that we are no longer producing the highest quality of cocoa?”

    When told that officialdom attribute the decline in fortunes to galamsey, Murtala sharply disagreed.

    “What galamsey? The issue of galamsey didn’t start today, and I remember as a member of COCOBOD, issues came up and that was the reason why, frontally, under the leadership of Dr. Opuni and President Mahama it was fought frontally. I will not say we didn’t have galamsey, but the level of havoc that galamsey was causing to our cocoa is not as it is today.

    “This President, indeed told everybody, that galamsey should be used as the only standard to determine whether he should continuously be in office or not, and he said that he was putting his presidency on the line. Today, every independent institution, including state institutions have admitted that galamsey is worse off. So this man should not be in office, he is unfit for remaining in office,” he said of President Akufo-Addo.

    “If you have a chief executive of an institution such as the Cocoa board who admitted on national television that he has failed, why should he continuously be in office? Because if you say that, yes, smuggling has been a problem. It was so much last year and this year it has escalated, what then is your responsibility? Your responsibility is to find solutions and everything he said today is about blaming others for the problems.”

  • Decline in global cocoa price caused loss of GHS2bn in 2021 – COCOBOD

    Decline in global cocoa price caused loss of GHS2bn in 2021 – COCOBOD

    The Chief Executive of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has attributed the organization’s GH¢2 billion loss in 2021 to the decline in the international market price of cocoa.

    He highlighted that the global cocoa price had witnessed a substantial decrease of over 30% in recent years, contributing significantly to the incurred losses.

    During his appearance before the Public Accounts Committee (PAC) in Accra on Tuesday, Mr. Aidoo discussed the measures being explored to recover from these losses and restore profitability.

    He reassured the committee that comprehensive plans are in progress to address the challenges arising from the declining cocoa prices, with strategies being implemented to mitigate further financial setbacks.

    Mr. Aidoo emphasized the impact of the international market price on COCOBOD’s financial situation, stating, “Chairman we are on the path of a turnaround. COCOBOD’s financial situation is dictated by the international market Price, that’s the world cocoa price, and we all know that from 2017 to the date in question, the price of cocoa in the world market has collapsed by 30%. And in 2020 that is also when we had our highest production.

    “So when prices collapsed at the time when we had increased yield. That is the direct cost and inventory go up whereas the revenue generated goes down.

    “That is what explains the huge deficit for the particular year. Essentially yes we had record production, the prices at the international market did not favour us,” he stated.

  • COCOBOD to allocate part of $200M World Bank loan to recover cocoa-swollen shoot virus-infested plantations

    COCOBOD to allocate part of $200M World Bank loan to recover cocoa-swollen shoot virus-infested plantations

    Ghana’s Cocoa Board (COCOBOD) plans to utilize a portion of a $200 million World Bank loan to restore plantations devastated by the cocoa swollen shoot virus, which leads to decreased yields and tree fatalities, according to the regulator’s Deputy Chief Executive in charge of operations.

    The disease has decimated approximately 500,000 hectares of farmland and diminished cocoa production in the West African nation, which is the world’s second-largest cocoa producer after its neighbor Ivory Coast.

    Ghana’s cocoa output fell to 600,000 metric tons last year, down from a peak of 1.048 million tons in the 2020/21 season, due to the cocoa swollen shoot virus, aging plantations, illegal mining, and smuggling, which have all had a negative impact on the sector.

    A project information document indicates that a total of $132.8 million from the loan secured by the government last year, along with counterpart funding, will be used by Cocobod to rehabilitate farms and enhance knowledge about the virus strains.

    “The rehabilitation will take a minimum of five years to start getting economic production,” Cocobod’s Emmanuel Opoku told Reuters, adding that efforts had been hampered by the country’s economic crisis and the board’s limited funds.

    The board will intervene by taking control of disease-infected farms, removing and replacing sick cocoa trees, nurturing them to a fruiting stage, and then returning them to farmers.

    In 2018, COCOBOD utilized a portion of a $600 million Africa Development Bank (AfDB) loan to revitalize aging plantations and those impacted by the disease.

    However, the program, originally intended to cover 156,000 hectares of plantations, was affected by Ghana’s most severe economic crisis in a generation, marked by soaring inflation and sharp depreciation of the cedi currency, Opoku explained.

    He mentioned that the AfDB initiative benefited over 88,000 hectares of farmland, with 40,000 hectares set to be returned to farmers in the “coming days.”

    Alhassan Bukari, president of the country’s Cocoa, Coffee, and Sheanut Farmers’ Association, emphasized the need for aggressive rehabilitation efforts, as many farmers have been affected.

    Ghana’s graded and sealed cocoa arrivals dropped by 35% between the start of this season on September 1 and January 31 this year due to the intensity of the seasonal dry Harmattan wind and what COCOBOD described as production challenges.

  • COCOBOD to rebuild disease-infested cocoa farms with parts of $200m loan World Bank loan – Management

    COCOBOD to rebuild disease-infested cocoa farms with parts of $200m loan World Bank loan – Management

    The Ghana Cocoa Board (COCOBOD) plans to utilize a portion of a $200 million World Bank loan to revitalize cocoa farms affected by disease in the country.

    Last year, Ghana’s cocoa production experienced a significant drop to 600,000 metric tons from 1.048 million tons in the 2020/21 season.

    The decline is attributed to various factors, including the widespread cocoa swollen shoot virus, aging plantations, and illegal mining and smuggling activities in the sector.

    The cocoa swollen shoot virus has affected not only Ghana but also other cocoa-producing regions globally, leading to the loss of approximately 500,000 hectares of farmland and reducing cocoa output in the world’s second-largest cocoa producer.

    “The board will take over disease-infested farms, cut and replace sick cocoa trees, aiding growth to a fruiting stage before handing them back to farmers.”

    Deputy CEO of COCOBOD, Dr Emmanuel Opoku, mentioned that the World Bank loan would be used to rehabilitate plantations impacted by the cocoa swollen shoot virus.

    The initiative involves taking over disease-infested farms, replacing sick cocoa trees, and nurturing them to a fruiting stage before returning them to farmers. The rehabilitation process is anticipated to span six years, with a minimum of five years to start economic production.

    Last year, the government secured $132.8 million of the loan, and the counterpart funding will support COCOBOD’s farm rehabilitation efforts and contribute to advancing knowledge about the virus strains. COCOBOD’s Emmanuel Opoku emphasized that the rehabilitation process is a long-term endeavor, requiring patience as it takes a minimum of five years to achieve economic production.

  • 87% of cocoa road contracts since 2020 were awarded through a non-competitive process – Auditor-General

    87% of cocoa road contracts since 2020 were awarded through a non-competitive process – Auditor-General

    The Auditor-General has disclosed that a significant portion, 87%, of road contracts within the Cocoa Road Improvement Programme (CRIP II) between 2015 and 2021 were awarded through “non-competitive routes.”

    This approach led to higher construction costs compared to contracts awarded through competitive tendering, as outlined in the June 2023 Performance Audit Report on Cocoa Road Construction during the specified period.

    During CRIP II, the Ghana Cocoa Board (COCOBOD) awarded a total of 266 road contracts, covering a combined length of 4,100km for rehabilitation, upgrading, and construction in cocoa-growing areas. Among these contracts, only 33 underwent competitive bidding, while 175 were awarded through single-source procurement, and 58 through restricted tendering, indicating a significant reliance on non-competitive procurement methods.

    The report highlighted that the reasons provided by COCOBOD for utilizing these procurement methods did not align with the requirements of the Public Procurement Act. Additionally, it noted that while some positive outcomes were achieved with completed cocoa roads, there were areas requiring improvement to ensure the Programme’s sustainability.

    One key issue identified was the lack of prioritization of road projects under CRIP II to match the available funding. Although COCOBOD sought input from subsidiaries and the Department of Feeder Roads to identify critical roads, proper prioritization processes were not evident. As a result, more road projects were implemented than the budget for CRIP could support.

    Furthermore, the estimates used by COCOBOD for cocoa road projects were deemed inadequate for implementation, being based on line diagrams rather than detailed designs. This led to significant variances between estimated costs and contract sums, ranging from 4.68% to 99.7%.

    Inspections revealed defects in completed roads, such as potholes, disintegrating surfaces, and cracks in concrete drains. Consultants failed to visit project sites regularly and issued only a few defect notices to contractors without adequate follow-up for rectification, as noted in the report.

    “The consultants cited non- payment of fees by COCOBOD as the reason for their inadequate supervision,” it said.

    The delays in road works under CRIP I and CRIP II were attributed to COCOBOD’s failure to make timely payments to contractors, according to the audit report. Additionally, the Board did not have alternative funding plans to address payment gaps, nor did it ensure contractors worked diligently to meet project deadlines.

    To address these issues, the report recommended that COCOBOD develop and implement a detailed plan and strategy to prioritize road projects based on factors such as budget, road conditions, and cocoa production areas. It also suggested that the General Services Department of the Board consult with the Ghana Highway Authority and the Department of Feeder Roads to make appropriate adjustments to estimates when budgeting for the program to ensure adequate resource allocation.

    Furthermore, the report recommended that COCOBOD seek expert advice to analyze procurement options and ensure better value for money. It also advised prioritizing supervision of road works and providing necessary resources to consultants for active supervision and rectification of defective works.

    “COCOBOD should suspend awarding new contracts until all existing contracts are completed and paid for,” it added.

    To address the challenge of poor road conditions in cocoa-growing areas, the Government initiated the Cocoa Road Improvement Programme (CRIP) in 2015.

    This collaborative effort involved the Ministry of Roads and Highways, with COCOBOD serving as the implementing agency and financier. The primary goal of the program is to enhance 2,900km of roads to facilitate the efficient and rapid transportation of cocoa beans from farms to purchasing centers and seaports.

    This initiative aims to minimize post-harvest losses in the cocoa sector.

  • Parliament to investigate debt owed cocoa roads contractors 

    Parliament to investigate debt owed cocoa roads contractors 

    Speaker of Parliament, Alban Bagbin, has unveiled plans to establish a high-powered committee to investigate the issue of unpaid arrears to cocoa road contractors.

    Bagbin revealed that he has received numerous petitions from both cocoa road contractors and contractors associated with the Roads and Highways Ministry concerning the government’s prolonged delay in disbursing their outstanding payments.

    The Concerned Cocoa Road Contractors Association of Ghana has expressed frustration over the government’s failure to settle debts owed to them for their work on various roads throughout the nation.

    Bagbin proposed the formation of a committee to thoroughly investigate the matter and emphasised the importance of enhanced collaboration between both parliamentary caucuses in addressing this issue.

    “I have received many petitions from contractors regarding non-payment of their labour, a lot of arrears from both COCOBOD and Roads and Highways. In fact, I propose setting up a high-powered committee to investigate that matter because it is very important.”

  • Our mass sprayers have not become impotent, blind – COCOBOD

    Our mass sprayers have not become impotent, blind – COCOBOD

    The Ghana Cocoa Board (COCOBOD) has dismissed allegations of neglecting to provide essential medical care to its contracted mass cocoa sprayers in response to concerns raised by the Ghana National Association of Cocoa Farmers regarding the adverse health effects of agrochemical exposure.

    Addressing these concerns, the head of the Public Relations Department at COCOBOD, Fiifi Boafo, clarified in an interview with Citi News that the board regularly conducts medical check-ups for contracted farmers engaged in cocoa spraying.

    Contrary to the claims made by the cocoa farmers’ association, Boafo refuted the allegations, asserting that the Cocoa Clinic has not encountered any cases exhibiting symptoms such as blindness or impotence among the contracted sprayers.

    “We find it a bit surprising to hear these complaints because these are not complaints that we are aware of.”

    “Let me put on record that for the spraying of cocoa farms, COCOBOD hires over 57,000 people every year who help the farmers with the spraying of their farms across the country. These persons, at the end of every session, apart from the fact that COCOBOD Research Institute goes round the country and takes samples and does an evaluation of the spraying that is done for the farmers, we also take some of them to the Cocoa Clinic for examination.

    “So allegations that some people are suffering impotency and blindness are not things that the Cocoa Clinic has identified,” Mr Boafo said.