No Increase in Cocoa Prices – COCOBOD clarifies

The Ghana Cocoa Board (COCOBOD) has strongly refuted claims made in a social media flyer that falsely announced an increase in cocoa prices.

The flyer, which attributed the statement to the Minister for Food and Agriculture, Eric Opoku, claimed that cocoa farmers would receive 70 percent of the world market price. COCOBOD has labeled these claims as entirely misleading.

In a statement shared on their official Facebook page, COCOBOD urged the public and stakeholders to ignore the false information and rely on official communication channels for accurate updates on cocoa pricing.

“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.

We urge our cherished stakeholders and the public to disregard this fake news and rely only on official communication from COCOBOD and the Ministry,” the statement read.

COCOBOD emphasized that any changes to cocoa prices will be officially communicated through the appropriate channels. The regulatory body also encouraged the public to disregard the misleading flyer, which has caused confusion, particularly among cocoa farmers who have been closely monitoring price developments in light of global market fluctuations.

This clarification comes at a crucial time, as Ghana’s cocoa sector faces numerous challenges, including rising production costs, climate-related risks, and fluctuations in global supply and demand.

Farmers have long called for better pricing to cover operational costs, but COCOBOD stressed that any future price adjustments will be communicated through the official channels.

The widespread circulation of the false flyer has led to uncertainty among farmers and stakeholders who are awaiting updates on the cocoa pricing situation.

COCOBOD’s statement aims to clear up any confusion and reassure the public that they should rely on official sources for accurate information.