COCOBOD announces June 6 closure for 2023/24 main cocoa season

The Ghana Cocoa Board (COCOBOD) has announced that purchases for the 2023/24 main cocoa season will end on Thursday, June 6, 2024.

The season, which began in October 2023, will come to a close after over 8 months of buying beans from cocoa farmers across Ghana.

According to a statement dated May 31, COCOBOD has given Licensed Buying Companies (LBCs) more time to submit their final returns from upcountry centers by extending the deadline to June 13.

"In order to assist the Licensed Buying Companies (LBC's) to obtain the final returns from up-country centres, Ghana Cocoa Board has decided that returns on the declared purchases will be accepted up to 4:00 pm on THURSDAY, 13TH JUNE 2024," the statement from COCOBOD's public affairs department reads.

The timely announcement of the closure date allows LBCs, farmers and all industry stakeholders to wrap up transactions for the main crop season in an organized manner.

Meanwhile, if has been reported that the cocoa regulator, is set to secure a syndicated loan of up to $1.5 billion to finance cocoa purchases from farmers in the 2024/25 season amid significantly lower production this year.