Price adjustment painful but necessary to sustain the cocoa sector - COCOBOD CEO
Dr. Randy Abbey, Chief Executive Officer of the Ghana Cocoa Board, stated that the recent adjustment in cocoa producer prices for the remainder of the 2025/2026 crop season is necessary to safeguard the long-term sustainability of Ghana's cocoa sector. He acknowledged farmers' concerns and stressed that their welfare remains central to policy decisions. According to him, government, through COCOBOD, fulfilled its August 2025 commitment to ensure farmers received 70 percent of the Free-On-Board (FOB) price.
Dr. Abbey indicated that government and COCOBOD have absorbed substantial costs to cushion farmers and maintain relative stability in producer prices. He highlighted the importance of prudent financial management, referencing existing obligations from past market interventions. He said, "In taking this decision, we have been guided by the need to strike a careful balance between providing immediate support to our farmers and ensuring that the cocoa industry remains resilient and sustainable over the long term."
Dr. Abbey also disclosed that COCOBOD is working on introducing new pricing and financing models aimed at strengthening the sector's resilience against global market fluctuations. He reiterated that the current price adjustment forms part of a wider effort to build a more robust, efficient and forward-looking cocoa industry. He assured cocoa farmers that COCOBOD is implementing reforms and strategic interventions to improve operational efficiency, strengthen service delivery and enhance productivity across cocoa-growing communities.
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COCOBOD's CEO, Dr. Randy Abbey, addressed the cocoa producer price adjustment at a ceremony honoring top cocoa farmers. He acknowledged farmers' concerns- hinting at the delicate balance between support and sustainability.
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