The Ghana Cocoa Board (COCOBOD) is urging the general public, industry stakeholders, and media outlets to disregard any claims or reports suggesting that a new producer price for cocoa has been finalized or officially announced.
In an official statement, COCOBOD firmly denied the circulating information, clarifying that no such decision has been made.
The Board explained that the institutional mechanisms required for determining and approving a new producer price are not yet in place, making any such claims inaccurate and misleading.
“The public is advised to disregard any statement or news suggesting a decision or announcement on the producer price of cocoa,” the statement emphasized.
COCOBOD went on to explain the specific reasons why these reports are unfounded:
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Lack of a Board of Directors: Currently, COCOBOD does not have a constituted Board of Directors, the body legally mandated to approve any new producer price. Without this oversight authority, no formal decision on pricing can be made.
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Producer Price Review Committee Not Convened: The Producer Price Review Committee (PPRC), which is responsible for reviewing market conditions and recommending appropriate prices, has not yet met or been briefed. Until this committee completes its work, no official price determination can occur.
“In view of the above reasons, there is simply no basis for any claim that a new producer price has been announced,” the statement concluded, urging the public to rely only on verified information from official COCOBOD channels.
