Audio By Carbonatix
The Offinso MP, Dr Isaac Opoku, has called on the management of the Ghana Cocoa Board (COCOBOD) to be open and honest with cocoa farmers and the general public about the difficulties confronting the cocoa sector.
He argued that the current challenges facing the industry require clear explanations rather than what he described as vague narratives, stressing that cocoa farmers deserve to understand the true state of affairs affecting their livelihoods.
According to him, transparency is critical at a time when confidence in the sector is under strain.
Dr Opoku maintained that the situation could have been significantly worse if not for steps taken by the previous administration to trade cocoa forward, a decision he said helped cushion the sector against current shocks.
He also attributed COCOBOD’s financial and operational difficulties largely to the prevailing exchange rate environment, which he believes falls under the current administration's responsibility.
Speaking on Channel One TV on Monday, February 9, Dr Opoku said COCOBOD must stop “beating about the bush” and tell farmers “what the real problem is,” adding that the sector benefited from forward sales made by the previous government.
He questioned attempts to deflect blame, noting that cocoa farmers were paid under exchange rates determined by the current government between January and October, making it difficult to shift responsibility elsewhere.
Addressing concerns about cocoa contract rollovers, the Offinso MP dismissed suggestions that the practice is unusual, explaining that it is standard across the global cocoa industry.
He cited production risks such as weather conditions, bushfires, and smuggling, noting that the Nana Akufo-Addo-led government inherited over 190,000 tonnes of rolled-over contracts in 2017, while Côte d’Ivoire rolled over about 500,000 metric tonnes in 2024, and stressed that such occurrences are part of normal industry practice.
Latest Stories
-
Ghana International Bank appoints Ian Greenstreet as CEO, subject to regulatory approval
5 minutes -
New developments in Middle East will broadly influence Ghana’s inflation outlook – BoG Governor
6 minutes -
Gyakie teases release of ‘Treasure’ with artwork unveiling
16 minutes -
Ntim Fordjour demands answers over Ghana’s declining Global Peace Index ranking
31 minutes -
Development Bank Ghana marks five years of catalyzing private sector growth
41 minutes -
Afari Hospital: Only $500,000 in arrears needed for completion; demand for $85m criminal—Minority
46 minutes -
Mahama gov’t paying itself while Akufo-Addo staff remain unpaid – Kow Essuman
50 minutes -
Kow Essuman accuses Kwakye Ofosu of misleading public on Presidential salaries
53 minutes -
BoG urges banks to support agriculture and productive sectors
54 minutes -
2026 World Cup: Chief Imam urges national prayers for Black Stars ahead of Panama opener
55 minutes -
Ofori-Atta yet to be notified of any criminal charges in Ghana – Frank Davies
57 minutes -
Chief Imam calls for national prayers and support for Black Stars at the FIFA World Cup 2026
59 minutes -
Ashanti Regional Minister inspects flood hotspots at KNUST, vows crackdown on encroachment
1 hour -
GPRTU eyes cashless transport system to curb armed robbery attacks on drivers
1 hour -
Minority blames NDC for delays in Afari Military Hospital project
1 hour