The Chief Executive Officer of the Ghana Cocoa Board, Dr. Randy Abbey, says the recent adjustment in cocoa producer prices for the remainder of the 2025/2026 crop season, though painful, is necessary to safeguard the long-term sustainability of Ghana’s cocoa sector.

Speaking at a ceremony held at Cocoa House in Accra to honour three Ghanaian cocoa farmers who excelled in the gold and silver categories at the prestigious Cacao of Excellence Awards in the Netherlands, Dr. Abbey acknowledged farmers’ concerns and stressed that their welfare remains central to policy decisions.

He explained that the adjustment follows careful consideration of developments on the global cocoa market, particularly sustained volatility and recent downward trends in international prices.

According to him, although government, through COCOBOD, fulfilled its August 2025 commitment to ensure farmers received 70 percent of the Free-On-Board (FOB) price, subsequent market conditions have exerted significant financial pressure across the cocoa value chain.

“In taking this decision, we have been guided by the need to strike a careful balance between providing immediate support to our farmers and ensuring that the cocoa industry remains resilient and sustainable over the long term,” he stated.

Dr. Abbey further indicated that despite the challenging market environment, government and COCOBOD have absorbed substantial costs to cushion farmers and maintain relative stability in producer prices.

He noted that these efforts reflect a deliberate commitment to protect farmer incomes while navigating global uncertainties.

Touching on the sector’s financial outlook, the COCOBOD Chief highlighted the importance of prudent financial management, referencing existing obligations from past market interventions.

He stressed that while such measures were necessary to support farmers, they must be managed responsibly to avoid placing undue strain on the sector.

Dr. Abbey also disclosed that COCOBOD is working on introducing new pricing and financing models aimed at strengthening the sector’s resilience against global market fluctuations.

“These reforms are part of a broader strategy to reposition the cocoa sector to respond more effectively to changing global market dynamics, while ensuring that our farmers continue to receive fair and sustainable returns,” he noted.

He reiterated that the current price adjustment forms part of a wider effort to build a more robust, efficient and forward-looking cocoa industry capable of delivering long-term value to farmers and the national economy.

Dr. Abbey assured cocoa farmers that COCOBOD remains firmly committed to their welfare and is implementing reforms and strategic interventions to improve operational efficiency, strengthen service delivery and enhance productivity across cocoa-growing communities.

He concluded by commending farmers for their resilience and dedication, reaffirming COCOBOD’s resolve to work collaboratively with stakeholders to sustain and grow Ghana’s cocoa sector for present and future generations.