Minister for Food and Agriculture, Bryan Acheampong, has shot down claims the Ghana Cocoa Board (COCOBOD) is not financially stable enough to purchase cocoa beans from farmers.

He strongly refuted the assertions, standing categorically that it was a wrong impression.

Addressing a press conference, the minister indicated that it remains financially viable to make purchases.

He made the remarks while announcing the producer price for cocoa for the 2024/2025 season.

The cocoa producer price has been increased from GH¢20,928 per tonne at the opening of the 2023/2024 season to GH¢48,000 per tonne, or from GH¢1,308 per 64kg bag to GH¢3,000 per 64kg bag.

The minister in his submission said “I am not too sure why you will say COCOBOD has no money. It is a wrong impression. It should never be put out there. COCOBOD is well positioned to buy cocoa beans from farmers and trade same."

“Nowhere has the government reported or COCOBOD mentioned that it has no money to buy cocoa.”