Ghana COCOBOD releases US$229.4M to licensed buying companies for Ccocoa farmer payments

GHANA – The Ghana Cocoa Board (COCOBOD) has released GH¢2.6 billion (US$229.4M) to Licensed Buying Companies (LBCs) to facilitate payments to cocoa farmers for cocoa purchased across the country’s cocoa-growing regions during the 2025/26 crop season.  

In a statement issued on July 2, COCOBOD said the funds are intended to ensure that farmers who supplied cocoa through the approved purchasing system receive payment for their produce.  

The Board disclosed that it has disbursed a total of GH¢34.52 billion (US$3.05B) to Licensed Buying Companies since the start of the 2025/26 crop season for onward payment to cocoa farmers.  

According to COCOBOD, approximately GH¢1.4 billion of the latest allocation has been designated to settle outstanding payments owed to farmers for cocoa previously purchased on credit.  

The Board said it is working closely with Licensed Buying Companies to ensure that all outstanding payments are processed without delay. It added that monitoring mechanisms have been established to verify that the funds reach the intended beneficiaries.  

“COCOBOD acknowledges the patience, resilience and understanding demonstrated by cocoa farmers during this challenging period and wishes to assure all cocoa farmers that no farmer will be denied payment for cocoa legitimately sold through the approved cocoa purchasing system,” the Board said.  

Farmers with unpaid balances have been advised to contact the Licensed Buying Company through which they sold their cocoa. COCOBOD stated that it will continue collaborating with industry stakeholders to ensure all outstanding financial obligations are fully settled.  

The Board said the latest release of funds demonstrates the government’s continued commitment to protecting cocoa farmers and maintaining confidence in Ghana’s cocoa marketing system.  

“The release of these funds underscores the Government’s commitment to safeguarding the welfare of cocoa farmers and preserving the integrity of Ghana’s cocoa industry,” the statement noted.  

COCOBOD also expressed appreciation to cocoa farmers for their continued contribution to Ghana’s agricultural sector and national economy.  

“COCOBOD expresses its sincere appreciation to all cocoa farmers for their continued dedication and invaluable contribution to Ghana’s economy. The Board will continue to work with Government and industry stakeholders to strengthen the cocoa value chain, improve farmer welfare, and ensure the long-term sustainability of Ghana’s cocoa sector,” it added.  

Earlier this year, Ghana introduced a new domestic financing model and maintained the farmgate cocoa price at GH¢41,392 (approximately US$3,580) per metric ton for the remainder of the 2025/26 crop season, reinforcing support for the country’s cocoa industry.  

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