Farmers yet to receive GH₵855m in arrears

The Minority in Parliament has slammed the government for a continuous delay in settling debts owed to cocoa farmers despite the recent reduction in producer prices.

The Caucus revealed that despite the government’s announcement of GH₵855 million released to settle outstanding payments, these funds are yet to reach farmers across the country.

Contributing to parliamentary debates on President Mahama’s SONA 2026 on Thursday, the Ranking Member on Parliament’s Food, Agriculture, and Cocoa Affairs Committee, Isaac Yaw Opoku, argued that these delays have worsened the situation of farmers who rely on timely payments for their livelihoods.

“They are finding all manner of reasons as to why they cannot pay the cocoa farmer. They promised GH₵6,000, but it turned out to be 419. They increased the price from GH₵31,000 to GH₵36,000, but they didn’t pay. Now they have slashed it to GH₵2,587, and even that, they are not paying,” Isaac Yaw Opoku claimed.

He further asserted that the Ghana Cocoa Board (COCOBOD) owes Licensed Buying Companies (LBCs) over GH₵11 billion, pointing out that it will take the Board over a year to successfully settle all debts.

“So, if you are paying GH₵1 million every month, it is going to take over one year for all the farmers to be paid, that is nothing less than 419,” he added.

The Ranking Member warned that any continued delay in payments could undermine trust in COCOBOD and harm the integrity of the entire cocoa sector.

The global cocoa market is currently navigating a period of high volatility, forcing major price corrections across the world’s top producers.

Ivory Coast, the world’s largest producer, implemented a nearly 60% reduction in its farmgate price effective March 1, dropping prices from 2,800 CFA francs per kilogram to between 800 and 1,200 CFA francs, to “align with global market realities.”

This, in effect, places Ghana’s GH¢2,587 per bag significantly ahead of the rate in Ivory Coast, despite the reduction in February.