COCOBOD determined to improve welfare of cocoa farmers, ensure long-term financial stability – Joseph Boahen

The Chief Executive Officer (CEO) of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has assured that the Board is keen on improving the welfare of cocoa farmers in the country.

According to him, COCOBOD is determined to ensure the long-term financial stability of cocoa farmers.

Mr. Joseph Boahen Aidoo gave the assurance on Monday at a press briefing at the Ministry of Information when he announced that COCOBOD’s success is steadily increasing producer prices, offering substantial support to cocoa farmers amongst global price volatility.

“Year-on-year, we have consistently raised the price paid to farmers. In 2024, we made history by increasing the producer price to GHS 48,000 per ton, the highest in Ghana’s history.

“These efforts are not just about short-term gains. We want to ensure that every cocoa farmer in Ghana enjoys long-term security. Our payment of remunerative prices guarantees that they can invest in their farms, improve productivity, and ultimately, enjoy a better quality of life,” the COCOBOD CEO said.

Mr. Joseph Boahen Aidoo also highlighted COCOBOD’s introduction of a comprehensive cocoa farmer database and the successful launch of the Cocoa Farmers Pension Scheme, which ensures financial independence for farmers in their later years.

“Through our integrated Cocoa Management System, we have registered over 790,000 farmers, which has paved the way for direct payments and pension contributions, ensuring that no cocoa farmer is left behind,” he shared.