Completely untrue – COCOBOD dismisses claims of 70% cocoa price

The Ghana Cocoa Board (COCOBOD) has strongly refuted claims circulating on social media that the government has announced an increase in cocoa prices.

In a statement, COCOBOD described the reports as “completely untrue” and urged the public to disregard them. The organisation stressed the need for stakeholders to rely on official communication channels for accurate information regarding cocoa pricing.

A widely shared social media flyer alleged that the Minister for Food and Agriculture, Eric Opoku, had announced that cocoa farmers would receive 70% of the world market price. COCOBOD, however, dismissed this claim as misleading.

“Our attention has been drawn to a false flyer circulating on social media claiming that the Minister for Food and Agriculture has announced an increase in cocoa prices. This information is completely untrue,” COCOBOD stated in a post on its official social media page.

The false reports come at a time when cocoa farmers and industry players are keenly watching for potential price adjustments amid global market fluctuations. Farmers have long called for higher prices to reflect the increasing cost of production, climate-related challenges, and declining cocoa output.

COCOBOD reassured all stakeholders that any future price changes would be communicated through the appropriate official channels to prevent misinformation and unnecessary speculation.