Chamber of Cocoa Marketers warns Cocobod’s GH¢4bn debt could disrupt cocoa purchases in new season

The Chamber of Cocoa Marketers Ghana has issued a warning that Licensed Buying Companies (LBCs) might be unable to resume cocoa purchases when the 2026/27 season begins due to Cocobod's failure to pay its outstanding debts. The organization claims Cocobod owes LBCs around GH¢4 billion, which is hindering their ability to obtain new credit while they continue to pay off loans from previous seasons.

Victus Dzah, the CEO of the Chamber of Cocoa Marketers Ghana, expressed concern over the debt, stating, "Cocobod has not paid us. How are we going to go back to the field to buy cocoa?" Some LBCs are taking out loans at interest rates of up to 40 percent while they wait for Cocobod to settle its debts, potentially leading to the collapse of some companies.

Concerning cocoa pricing, Dzah raised questions about Ghana's new pricing system, which guarantees farmers 70 percent of the FOB price. He warned that if Ghana significantly increases its farmgate price, it could result in a significant price gap with Côte d’Ivoire, which has opened its 2026/27 season at a lower price. This price differential could lead to cocoa production moving across the border, potentially resulting in smuggling and a loss in the quality of Ghanaian cocoa.

The Chamber of Cocoa Marketers Ghana also called for clarity on how Cocobod plans to finance cocoa purchases in the new season, emphasizing the need for better communication between Cocobod and LBCs.