The Ghana Cocoa Board (COCOBOD) has announced the release of substantial funds to Licensed Buying Companies (LBCs) to facilitate the payment of outstanding monies owed to cocoa farmers across the country.
The announcement was made during COCOBOD’s nationwide farmer sensitisation campaign, which is also educating cocoa growers on the reintroduced Free Fertiliser and Agro-Inputs Distribution Programme and other reforms aimed at revitalising the cocoa sector.
Speaking to farmers, COCOBOD’s Deputy Head of Public Affairs, Mr Benjamin Teye Larweh, acknowledged delays in producer payments but explained that the situation resulted from financing constraints linked to an unprecedented decline in international cocoa prices.
He assured farmers that the Board had now made the necessary funds available to Licensed Buying Companies, expressing confidence that the outstanding payments would be settled within a short period.
According to Mr Larweh, clearing the payment backlog will enable cocoa farmers to adequately prepare and reinvest in their farms ahead of the upcoming crop season.
He commended farmers for their patience, resilience and unwavering commitment to cocoa production despite the financial and operational challenges that have affected the industry in recent years.
Mr Larweh reiterated COCOBOD’s commitment to rebuilding confidence in Ghana’s cocoa sector through policy reforms, enhanced stakeholder engagement and interventions designed to improve productivity and the livelihoods of cocoa farmers.
The nationwide sensitisation campaign, organised by COCOBOD’s Public Affairs Department in collaboration with the Cocoa Pest and Disease Control (CODAPEC) Unit of the Cocoa Health and Extension Division (CHED), is expected to reach cocoa-growing communities across the country as part of efforts to promote government initiatives and support increased cocoa production.
