Cocoa prices have reportedly been reduced from GH₵3,625 to GH₵2,587 per 64kg bag for the remainder of the season.
The adjustment follows challenges faced by COCOBOD in settling payments to cocoa farmers during the 2025 season.
According to sources, the reduction is linked to declining prices on the international market, which affected the government’s ability to pay farmers on time.
Hon. Randy Abbey, Director of COCOBOD, has come under intense criticism from farmers and sections of the public over the payment delays.
Critics recall that he previously opposed the former government under Nana Addo Dankwa Akufo-Addo when cocoa prices were increased to GH₵3,100 per bag.
In response to the growing concerns, President John Dramani Mahama has reportedly convened an emergency cabinet committee meeting to address the issue.